Please see my economic prediction for today!
I am probably going to give UK data predictions a rest seeing that it comes out quite interesting 70% of the time. Then I will stick to other countries. Here is my technical plan for UK data. I will most likely join the banks and non-commercials and short the pound again and stay long the US Dollar. I believe that the GBPUSD still will go to 1.26 in the long run.
I am anticipating that sellers will come in at this rejection candle on the 1 hour chart to form a DOUBLE WICK! I am already in though. MXN is effected by oil If the sellers do not step in today, thn, I am bailing out because I am bullish the dollar, and I do not normally trade this pair in the short-run. This is not a trade for a novice!
One of my favorite types of trades are these divergence trades. So, All that needs to be done is a pullback. And I have to determine which will be faster, AUD or NZD. My pending orders are in! Besides this...I am in other trades, like USDJPY.
decided to join the longs at support today...
I re-shorted GBPNZD. GBPNZD move wild...so, I just have a few microlots init. NOTHING BIG! And NZD is going down right now. GBP is highly shorted by large speculators still. This is actually bullish for GBP, so this trade is risky. Be careful! I might get stopped out, but I am bullish the dollar.
GBPJPY: See Economic-Fundamental Prediction and READ CAREFULLY! I am anticipating the economic catalyst for the UK will push this up. It looks like others are also lining themselves up for this small trade. Maybe it will get the ball rolling in the yen as well, but I think the main move here will be the GBP.
A small trade.. as NZD retraces.. GBP stall. This is a good opportunity to short. I will try to get out before the data release because I think it will be positive for the pound.
Signs from in GBPUSD trade at 1.3239 to go long, and it may not be too late because it just turned around on the daily and 8 hour chart. There is 5 hours to go before the sentiment of this bar ends. I will monitor a smaller time frame to look for an entry. I will update my economic calendar predictions at the end of today.
EURAUD: reentered AFTER GETTING SOME SLEEP... They say do not trade sleepy. Well, I was sleeping. I re-entered this one. It is a crown..MY trade!!
We've been killed for one month in NZDUSD, waiting for good US data. So far..mixed. Here is what I am still looking for this month and next month: Good US Economic Data: Employment Report, Retail sales, NFP, ISM If not, then... NZD will go to D instead of 0.69
USDJPY: Buy & Hold Until the Economic Fundamentals Change. I will post my ECONOMIC-FUNDAMENTAL predictions for the US Dollar on the economic calendar by the end of today.... stay tuned! Looking at charts (Technical analysis) is just the alphabet of learning economic-fundamentals that drives the market. It learning economics informs your views of what is going on...
Putting This Trade Up For Reference: USDCHF
This USDCHF pair is developing the right tip of a bullish crown pattern. The right tip is where I like to enter. The safest stop is below the swing low.
GBPNZD: All In After the Minefield Today....
Here is my set-up...I am in..... stops below 99.50
My first regime in EURAUD has been filled.