Plenty of fundamentals but clear market conditions
How is everything traders?
Have you seen the fundamental calendar for the week?
If you haven’t… you should, here are a few of the most important fundamental releases for the rest of the week:
AUD RBA Governor statement
CAD Interest rate
CAD BOC rate statement
JPY Monetary policy statement
GBP Interest rate
GBP Rate statement
EUR Interest rate
EUR ECB Press conference
USD Non-farm Payrolls
CAD Ivey PMI
With a week full of important news releases like this one you might think that the market must be very difficult to trade…
But that’s not correct my fellow trader…
Of course, not every currency pair will be tradable and will have clear market conditions…
But there are a few currencies that I wouldn’t think twice to trade, because they have clear swings and clear S&R levels.
One word of caution
Look, most of the time the market moves in the direction of the sentiment of the market (market condition), regardless of the fundamentals…
In fact, the market take these fundamentals as an excuse to move in the direction of the sentiment of the market, and that’s exactly the reason why sometimes the market moves against the fundamentals…
But you need to take in consideration that every important announcement has the potential to “change” the sentiment of the market.
So be careful ok? That’s the reason we all need to be careful on each one of those announcements.
Currency Pairs I’m Currently Monitoring:
Now, here are a few of the currency pairs that I think have a clear market condition:
- AUDJPY – Bullish
- NZDCAD – Bearish
- GBPCAD – Bearish
- EURUSD – Bearish
- GBPUSD – Bearish
- AUDNZD – Bullish
- NZDUSD – Bearish
There are other currency pairs that are trading in a clear condition but are either: too close to the next LT level, or trading near an important level and we need to wait for the market to break the ST range.
How are you going to handle this week’s fundamentals?
What do you think about the currency pairs that I’m trading today?
What other currency pairs are you trading/monitoring?
Share your thoughts!