EUR/USD this week was bullish right throughout, but the pair dropped in last few days due Donald Trump’s tweet and we saw the trend stopped and turned sharply, it’s likely to continue on same platter ahead as well.
Analysis For Major Pairs
- Thread starter MdJamalMolla
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EUR/USD this week was bullish right throughout, but the pair dropped in last few days due Donald Trump’s tweet and we saw the trend stopped and turned sharply, it’s likely to continue on same platter ahead as well.
GBP/USD went very high right throughout the week so far, it has gained 300 pips and likely to remain on bullish trend, but as we see there is some pullback, but similar trend is expected for rest of today and next week as well, so it could be good entry for long trade.
AUD/USD has been on extended bullish ride, but just last couple of days, there has been some pullback. So, it’s not a bad time to enter into long trade, but some pull back might be good before we go into it again. Buying at 0.75 level might be good option at present, but not before that.
EUR/USD is continuing without any momentum, but there was some slide, but it has stabilized again, its battle of who’s weakest with Euro having issues on the political department while Dollar is running in mix zone under Trump.
GBP/USD has stayed extremely still so far throughout the week and is now been traded around 1.24/25 level, it’s unlikely to reach too high with no major boost to talk over. So, it’s likely that the trend will remain mix between 1.24/25 level.
USD/JPY continues to stay neutral, but there is a strong push for Bearish trend. But, there is no major plot that could say it with confidence, so good chance to go shorts now, but need to do it with tight stop out level.
EU has been going around and around due to the uncertainty over political happening while the situation regarding NFP and rate hike is also playing it’s part. This is one of the best times to go for any random side for trade and yet get away with handful of profits WITH right management.
GU was the pick of pairs when you call for bearish mode, it has continued like fish continues in water 24/7/365 without getting tired! We see nothing else ahead either, it could just relax with gaining slightly, but largely it’s just one direction!
UJ is one of the most stable pairs in last couple of weeks with moving in very much range, but things are starting to change with bulls playing their cards and there has been massive push recently, it’s still holding tight but may not last too long.
Next week is expected to highly choppy with lots of big fundamental news lined up and many uncertainties in different currencies. It would keep the trader grounded and on the toes. Small retail traders might like to stay away due to the lots of likely whipsaws. But at the end it might be dud week too and most of the things might be just hot air. Nevertheless one needs to be cautious enough if trading.
USD was a big loser in this pair as the combined so-called positive general election for UK and increased uncertainty on various fronts in USA led the pair to rise to the highest level. The high reached was 1.2905 and the low was 1.2525. So further directions would come from only after the elections after Jun 8 and in the meanwhile USD might get going its own direction based on the various factors. A full blown war in troubled areas might hit USD badly in the near term!
Not a bad week for this pair and traded in somewhat tight ranges. The high reached was 109.42 and the low was 108.13. So nothing much for the traders to trade! Next week is supposed to bring more volatility especially if the uncertainty on various fronts increases and people start expressing this via this pair! So traders need to be cautious and take much lower risks during such time than in normal times.
EU has taken up extremely quickly and is rushing towards 1.11 level, it will be interesting to see if it manages to get there or not, but there might be some pullback. However, it is not right to sell now so buy is certainly the sensible option.
GU has been running steadily with no major movement since the opening day, it will be interesting where things head next, but with the way scenario is building up, it is better bet to have sell but needs to be done wisely and with measured approach.
The high of the price reached last week was 1.1297 and the low was 1.1133 as the week was quite volatile with FED in the backdrop but with some big miss on macroeconomic data’s and other factors USD is not exactly strong. So even with a rate hike the continued strength might not be sustained for long and the focus would shift to other areas too
With nothing much going around for next week for both the currencies one can expect just some sideways trading and not any sharp move unless there is some important event! So going to be a dull week with the month also nearly coming to an end. I think GBP rally would be capped given the uncertainty surrounding various events but might tear towards heaven if there is any significant improvement!
With active market intervention from Chinese national bank and providing a peg against USD, the pair gets contained in a familiar range and would not deviate too much from the intended ones. The central banks have enormous money and other resources to carry out such interventions and other things. Normal traders just need to follow the price action and trade accordingly.
A gain of around 0.6% is not bad given the conditions. This pair has been trading in a rigid range for a while though keeping its head above the 1.0000 or the parity level. Traders would be wary of this pair as they still have the fresh memory of the mega market crash when the SNB removed the floor of 1.2 on this pair. Guess only big institutes trades on this pair as small retail traders would be too scared!
USDCHF
Entry Point: Buy at 0.9575 Take Profit: 0.9606 Stop Loss: 0.9534
USDJPY
Entry Point: Buy at 112.34 Take Profit: 112.65 Stop Loss: 111.93
EURUSD
Entry Point: Sell at 1.1521 Take Profit: 1.1490 Stop Loss: 1.1562
GBPUSD
Entry Point: Sell at 1.3074 Take Profit: 1.3043 Stop Loss: 1.3115
Entry Point: Buy at 0.9575 Take Profit: 0.9606 Stop Loss: 0.9534
USDJPY
Entry Point: Buy at 112.34 Take Profit: 112.65 Stop Loss: 111.93
EURUSD
Entry Point: Sell at 1.1521 Take Profit: 1.1490 Stop Loss: 1.1562
GBPUSD
Entry Point: Sell at 1.3074 Take Profit: 1.3043 Stop Loss: 1.3115
GBP/USD Signals (DATE:19-Jul-2017)
Status:Close ENTRY POINT: Sell at 1.3024 TAKE PROFIT: 1.2993 STOP LOSS: 1.3065
Status:Close ENTRY POINT: Sell at 1.3024 TAKE PROFIT: 1.2993 STOP LOSS: 1.3065
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