Hello everyone, my name is Saul. I´ve been trading for some years now and I decided it´s time to give back to Baby pips community that helped me so much when I started.
In this thread I´ll post some trading ideas, analysis and I´ll be happy to answer some questions.
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Hello Saul! Glad to see experienced traders join the community Looking forward to your contributions!
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I appreciate the decision. Many traders will be benefitted by your decision.
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My Weekly Idea for AUD/USD
Week: 26-30.10.2020
Today we will speak about:
- Weekly Key Event’s Analysis
- Key Levels
- Trends
- Trade Ideas
Key event: AUD. Consumer Price Index. CPI
The Consumer Price Index (CPI) is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive for the AUD, while a low reading is seen as negative.
We expect a positive reading.
By the expectation, we should see a strengthening in AUD against other currencies since the beginning of the week. On Wednesday, releasing day, there will be a reaction in case of a surprise in data. In case of a positive surprise, there will be even more strengthening. In case of important negative release, we might see prices go back to previous support.
Key Levels:
-
Resistance 0.7200, 0.7270
-
Support 0.7030
Trend:
Bullish.
Price is above 0.7032 support level and it should test 0.7200 resistance because of expected positive results in Australian PCI.
Call to Action/Trade Idea
Until Wednesday will be looking for buying opportunities in AUD with a first target between 0.7200 and 0.7270 resistance levels.
In case of a positive unexpected result regarding the data, we might see prices reach 0.7340.
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OMG I am on the same page with this pair’s outlook…thanks for your post…I will be following 
Thank you very much!
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Thank you so much.
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How’s it going Saul, I’ve been dealing with some health issues for awhile now and haven’t been able to work. I’ve been interested in forex for a while now but it’s scary venturing out into the unknown. I don’t know much about forex but I’m willing to learn. I’m trying to raise money for surgery I need to have and I was wondering if you could mentor me on how to trade forex.
Hi Jamelle. I wish you a quick recovery from surgery.
If you are starting out, you can begin with the contents provided by babypips in the education area. there you will learn all the basics.
After that I recommend to learn supply and demand. you can go to youtube, there is a lot of people explaining the concept, I recommend Gil Ben-Hur but there are others.
Only after all that and some practice, consider mentoring so you can take the most out of it.
wish you success
Despite the bullish momentum in the market and good results on CPI, we see a lack of volatility and price has not reached the target. In case on a failure on climbing, we can expect a retracement to previous support.
Consider adjusting your stops.
Happy Trading!
I have used cTrader and MT4 both, and I think cTrader is more user-friendly in its interface and features. But still MT4 dominates the market. I’m wondering whether you konw the reason. I assume mt4 is much more popular than cTrader because it has a wide MQL4 community and is more acceptable to brokers and traders. But I think cTrader is more capable, both in user interface and features. Do you think cTrader will one day rival MT4 or MT5?
Hi
I agree ctrader is a friendlier platform. I also now metaquotes is trying to promote mt5 and slowly leaving behind mt4.
MT4 simply was the first one out there and was a great solution for all brokers and funds…
traders still like it and request for it so it is still around…
Weekly Trade Idea For EUR/USD
Week: 2-6.11.2020
Key event: USD.Presidential Election.
This is a significant event that could determine the appropriate stance of monetary policy and assess the risks to its long-run goals of price stability and sustainable economic growth.
Polls are mixed.
We don’t expect a break of actual support and resistance levels until the end of the votes counting. On Tuesday, as one of the candidates gains advantage we might start seeing a breakout of actual range. A win for Trump would represent a strengthening of the USD while a win for Biden would represent a Dollar weakening.
Key Levels:
-
Resistance 1.1860, 1.1940
-
Support 1.1620
Trend:
Neutral.
Price is near 1.1620 support level. We do not expect a break of the level until after the election.
Depending on the winner, we are likely to see a breakout of actual range.
Call to Action/Trade Idea
Until Tuesday we can trade the EUR/USD inside the actual consolidation range.
A win for Trump would lead to a breakout of support level while a win for Biden might take price to resistance levels and even a breakout of them.
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I think it will rise eur/usdAt the beginning of the week until election day.
I would agree
Thank you for sharing this. I am looking forward to more updates from you. What do you think about GBP since Brexit talks have started again?
Hi Eli!
Super hard to tell… But in this cases I tend to rely on technical mora than fundamentals.
I see mixed signals all over the place so for me is a bit early to take a posture…
mean time I’m trading both sides
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Weekly Trade Idea For EUR/USD
Week: 9-13.11.2020
Key event: POST - USD.Presidential Election. Biden Won. What NOW?
Biden has won the elections.
As we have said before, when anticipating Biden’s victory, we have seen the dollar getting weaker and the EUR/USD reaching a resistance level. After Biden’s first statements, we could see a rupture of those resistances, and the beginning of a new expansionist stage.
Key Levels:
-
Resistance 1.1860, 1.1940,1.2200
-
Support 1.1620
Trend:
Bullish.
Price is at resistance level 1.1860. We expect a continuation to next resistance and probably a breakout up to 1.2200.
Call to Action/Trade Idea
We will be looking for buying opportunities, either a breakout or a pullback to get a better entry price.
Biden’s statements will define currency behavior and volatility.
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Weekly Trade Idea For EUR/USD
Week: 16-20.11.2020
Key event: USD Retail Sales.
Measure of the total receipts of retail stores. Changes in Retail Sales are widely followed as an indicator of consumer spending.
We expect worse data than last month.
Until Tuesday, anticipating the result, we should see a weakening in the US dollar against other currencies. In case we don’t get a positive surprise in the final value, the weakening is likely to continue during the rest of the week.
Key Levels:
-
Resistance 1.1880, 1.1940
-
Support 1.1630
Trend:
Neutral/Bullish
Price is contained between 1.1620 support level and 1.1630 resistance level. At the beginning of the week we can expect a new test of resistance.
Depending on final data, we might either see a bullish continuation or a retracement to support.
Call to Action/Trade Idea
Until Tuesday we can trade the EUR/USD looking for buying opportunities.
Depending on the results, we will keep the bullish bias looking for a break and test of next resistance or buying opportunities near support level.
