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Weekly Trade Idea for EUR/USD

Week: 1-5.03.2021

Key event: USD. Non-Farm Payroll

The number of new jobs created during the previous month, in all non-agricultural business. The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank.

We expect a higher reading than the previous month.

Until Friday, we can expect a light strengthening of the USD against other currencies. It would require a very positive or negative surprising release for the USD to break actual ranging levels.

Key Levels:

  • Resistance 1.2300, 1.2400

  • Support 1.1950, 1.1900

Trend EUR/USD:

Neutral

Price is ranging between 1.2300 and 1.1950. Last week, the price closed with false up movement and a strong bearish movement, heading support levels. We do not expect a break of key levels before the announcement.

Call to Action/Trade Idea

Neutral markets provide the opportunity to trade both long and short. We will look to buy near supports and to sell near resistance after a price action confirmation.

Weekly analysis for USD/CAD

Week: 08-12.03.2021

Key event: CAD. Interest Rate

Interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading than the previous month.

We see a slowing momentum on the actual trend. A negative surprising data value could reverse actual trend direction.

Key Levels:

  • Resistance 1.3000

  • Support 1.2500

Trend USD/CAD:

Bearish/Neutral

Price is reacting to old demand levels. Price closed last week with a bearish pin bar. We see both bullish and bearish signals.

Call to Action/Trade Idea

We will look to sell near resistance after a confirmation signal. We will look to buy near supports after a confirmation pattern. Only a surprise on data release could lead to a break of the key support.

Like the analysis. Thanks for sharing. Following along.

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Weekly trade Idea on USD/CHF

Week: 15-19.03.2021

Key event: USD. Interest Rate Decision

A rate hike tends to boost the local currency, as it is understood as a sign of a healthy inflation. A rate cut, on the other hand, is seen as a sign of economic and inflationary woes and, therefore, tends to weaken the local currency. If rates remain unchanged, attention turns to the tone of the FOMC statement, and whether the tone is hawkish, or dovish over future developments of inflation.**

We expect a similar reading to the previous month.

Until release day, we expect a continuation of the actual trend. A surprising data value could reverse the actual trend direction.

Key Levels:

  • Resistance 0.9460**
  • Support 0.9200, 0.9090, 0.9020**

Trend USD/CHF:

Bullish

Price has surged and forming HH and HL, which could be the start of a new uptrend. It has formed new demand levels visible on lower Time Frames.

Call to Action/Trade Idea

We will look to buy near supports and demand zones, with targets on resistance 0.9460.

Weekly trade idea for EUR/USD
Week: 22-26.03.2021

Key event: USD. Fed´s Chair Powell testifies

Federal Reserve Chair Jerome Powell testifies before Congress, providing a broad overview of the economy and monetary policy.

During this week, there will be three speeches. On Monday, Tuesday and Wednesday.

These speeches tend to increase the volatility in the markets and may cause a breakout of key levels in price.

Key Levels:

  • Resistance 1.1989, 1.2180
  • Support 1.8400, 1.1755

Trend EUR/USD:

Neutral

Price is ranging between 1.1989 and 1.1840. Last week, the price closed with a false breakout down.

Call to Action/Trade Idea

We will look to trade the breakout of the actual range, very likely near or during one of the speeches.

Weekly trade Idea for USD/CAD
Week: 5-9.04.2021
Key event: CAD. Employment Rate

Measure of the change in the number of employed people in Canada. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive, or bullish for the CAD, while a low reading is seen as negative or bearish.

We expect a significantly lower reading than the previous month.

Until release day, we can expect a weakening of the Canadian dollar against other currencies. On Friday (releasing day), a surprising value could affect actual trends and cause possible breakouts of key levels.

Key Levels:

  • Resistance 1.2630, 1.2750, 1.2900

  • Support 1.2400, 1.2250

Trend USD/CAD:

Bearish

Price has been respecting a down channel, reacting to horizontal and diagonal resistance. This scenario may change with fundamental announcements.

Call to Action/Trade Idea

Until Friday we will look for buying opportunities near support. A breakout of the bearish channel will provide us opportunities to buy on retracements.

Weekly trade idea on NZD/USD

Week: 12-16.04.2021

Key event: NZD. Interest Rate Decision

RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.

We expect a similar reading to the previous lecture.

We do not expect this announcement to be relevant for the behavior of the NZD against other currencies during the week. More likely the technicals will be predominant. Only a very unexpected final data would affect the price action.

Key Levels:

  • Resistance 0.7100, 0.7000, 0.7450
  • Support 0.6800

Trend NZD/USD:

Bearish/Neutral

Price broke down two weeks ago the 0.7100 support level, turning it into key resistance. Price has formed a lower low; now a lower high would confirm a trend reversal.

Call to Action/Trade Idea

We will look to sell near resistance levels. The previous support levels are now important resistances.

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Been trading for almost 7 years, see my intro post for brief history. Love talking on discord.

[Removed for forums violation]

That’s the beauty of the forex market and babypips! New traders get to meet professional traders and put up any kind of queries to get expert guidance. You can’t reach where you want to if you are not working in the right direction. Determine what you want and you will be there.

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Weekly trade idea on USD/CAD

Week: 19-23.04.2021

Key event: CAD. Interest Rate

Interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading than the previous month.

Until release day, we expect a continuation of the actual trend. A negative surprising data value could reverse actual trend direction.

Key Levels:

  • Resistance 1.2630, 1.2750, 1.2900
  • Support 1.2400, 1.2255

Trend USD/CAD

Bearish

Price has been respecting a down channel, reacting to horizontal and diagonal resistance. This scenario may change with fundamental announcements.

Call to Action/Trade Idea

We will look for buying opportunities near support. A breakout of the bearish channel will provide us opportunities to buy on retracements.

Saul, Lets say you take 10 losses in a row. What is the mathematical explanition illustrating how that drawdown is paid for? That is what I teach my team and what we are constantly creating different ways to achieve. There are countless creative ways to pay for a string of losses. And ultimately its all that matters.

What is your system to pay for a string of losses?

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Hi symfractal!

I hope I understood your question right.

Since I risk a fixed amount per trade on my larger timeframes (the ones I hold over days), I just need to make sure to take trades with a positive risk reward potential in order to get back to breakeven.
My real challenge is not mathematical, but mental, in order to keep taking the trades I should.

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Weekly trade idea on EUR/USD.

Week: 26-30.04.2021

Key event: USD. Interest Rate

Interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading to the previous month.

Until release day, we expect a continuation of the actual trend. A positive or negative surprising data value could affect the actual trend direction.

Key Levels:

  • Resistance 1.2150, 1.2300
  • Support 1.1990, 1.1850, 1.1700

Trend EUR/USD

Bullish

Price has recovered aggressively to the upside. A test of the next resistance is very likely. If that level doesn’t hold we should see a rally all the way to 1.2250 / 1.2300.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Any retracement or pullback to support levels. Only an unexpected important release might overturn the actual trend.

Hey! It is so great to hear that. Please keep on sharing all your experience and latest trends that you find in the market so that we could get benefitted from that.

Thanks for sharing your analysis. How do you determine your TP levels? And do you ever just let a trade run once it’s hit BE, or do you always have a certain pip amount or level or % gain you’re looking for?

Hi!
I´ll do!
regards

HI!
My first TP is usually the next key level available, but on a strong trend I let some run for longer
Regards!

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Weekly trade idea on EUR/USD.

Week: 10-14.05.2021

Key event: USD. Retail Sales

The retail Sales measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes in such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive for the USD, while a low reading is seen as negative.

We expect a lower reading than the previous month.

Until release day, we expect a continuation of the actual US weakening trend against most major pairs. We do not expect a surprising positive data release that could reverse the actual trend direction.

Key Levels EUR/USD:

  • Resistance 1.2170, 1.2350
  • Support 1.1990, 1.1850, 1.1700

Trend EUR/USD

Bullish

Price has recovered aggressively to the upside. A test of the next resistance is very likely. If that level doesn’t hold we should see a rally all the way to 1.2250/1.2300.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important release might overturn the actual trend.

It’s a great gesture to help new traders get better in their trading careers. The market is quite unpredictable and you may have to take many steps that you may not be prepared for. In such a situation, guidance from experienced traders can prove to be really helpful.

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Weekly trade idea on EUR/USD.

Week: 24-28.05.2021

Key event: USD. Gross Domestic Product Annualized

The Gross Domestic Product Annualized shows the monetary value of all the goods, services and structures produced within a country in a given period of time. GDP Annualized indicates the pace at which a country’s economy is growing or decreasing. Generally speaking, a high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.

We expect a similar reading to the previous month.

This release should not affect the USD behavior during the week. Technical key levels will be more relevant. We expect a continuation of the actual US weakening trend against most major pairs. We do not expect a surprising positive data release that could reverse the actual trend direction.

Key Levels EUR/USD:

  • Resistance 1.2250, 1.2350

  • Support 1.2170, 1.2050, 1.2000

Trend EUR/USD

Bullish

Price has recovered aggressively to the upside, forming HH and HL. A test of the next resistance is very likely. If that level doesn’t hold we should see a rally all the way to 1.2300.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend on supports. Any retracement or pullback. Only an unexpected important release might overturn the actual trend.