Sunday, January 20, 2013

My expectations for Forex next week

It is good to do some analysis before the week starts so that one could be ready to actually take trades. I like doing that type of analysis on Saturdays and Sundays. So, when Monday comes I am often ready to make real trades. Since I am proactive I can wait patiently and select the best trades. It usually rounds up to about 2-3 trades per week. I hardly ever overtrade.

So, Looking at Euro pairs I see that we can expect recent ranges to remain with some bearishness coming at Euro in eur/aud and maybe eur/jpy pairs. eur/usd will probably try make new highs and get to 1.35 at last. My special focus will be eur/cad as we have rate decision from Canada this week. 

Pound will most likely find a bottom against US dollar. gbp/jpy will try to make new highs, but will have to get to new level of support. In the same fashion eur/gbp will definitely go down. Pound seems to be the biggest weakling. Well, Yen is, but you should not forget that what once is very weak will become very strong. 

Yen can rebound somewhat, but the downward trend will probably not be over yet. We need some fundamentals to confirm trend change. 

I bet on Euro weakness this week. However, buying near support after correction will take place is a good idea too. 

If you are ready to trade Forex, futures, indexes and stocks I recommend Etoro. 

Trading financial markets carries a high level of risk, and may not be suitable for all investors. All information on the blog is of educational nature and cannot be considered as advice, recommendation or signals to trade in any financial markets.