A few things to watch for in the next few days

How is your trading so far?

Have you noticed that the market has been a little slower than usual?

At least the majors have been trading in a very tight range (well… most of them at least).

Do you agree with me?

So here are a few things you need to take in consideration for the rest of the week.

Plenty of important fundamental announcements

This week we got a few of the most important fundamental announcements:

On Wednesday we got:

The GDP from CAD and USD
FOMC Statement (very important)

On Thursday:

GBP interest rate and statement
EUR interest rate and statement
USD ISM

And on Friday:

USD Non-farm payrolls report and unemployment rate

So what do you think? Are you going to trade during these announcements?

Currency Pairs to Watch

Did you notice I talked about the majors in my initial paragraph? That’s because they are in fact trading in a very short term range…

But that’s not the case for some of the crosses, like these two:

AUDNZD Analysis

This one os probably the currency pair that I like the most. Here is my long term chart:

AUDNZD Analysis

Pretty clear isnt it?

So for the AUDNZD, I’m going to be looking for short opportunities until it hits the next LT support level which is at: 1.0899

It is currently trading at 1.1347, so we got plenty of room.

EURAUD Analysis

Another cross that I think is trading in a very clear market condition is the EURAUD… It broke through the short term resistance level this morning, triggering a bullish market condition:

EURAUD Analysis

And you know what that means… That means that I’m going to be looking for long opportunities.

The next LT resistance level is at 1.5000, so we got more than 380 pips before we hit that level. Enough for you?

Your turn

Let me know what you think about my analysis… and what I think about the majors.

Are you going to trade during the news announcements?

Let me know in the comment section.

AUDNZD, EURAUD, forex, forex analysis


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .