The Pairs I’m looking at this week
It’s sunday night and it’s always a great time to review the trades of the past week and prepare for the upcoming week.
France lost its AAA credit rating. Although it is no surprise to many traders, the price of many currencies have not expressed this news yet.
- AUD/USD is consolidating. most likely a short might be a better idea if the price breaks the lower trend line. I don’t have an entry point because I can’t figure out where to put a stop yet.
- I will be keeping an eye on CAD/JPY. I got stopped out last week but I think it’s reverting back the mean.
- CHF/JPY is setting up for a long IF support holds around 80.10
- GBP/CAD has been retracing over the past couple of days, however the price did not reflect the France downgrade yet. I believe that a short might a good move if we can get an entry around 1.5720 with a stop-loss at 1.5790
Trade the market you see, not the one you want!
Good trading this week
(Source: palomnas.com)
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