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  • Monday, 19 August 2019

    Forex Weekly Setups, 19th August to 23rd August 2019

    The dollar showed great recovery last week as we saw some great moves on the dollar paired currency pairs which was according to most of our weekly setups provided on our previous articles. This week we looking much for the market to continue from the trends that were originally formed last week.

    Fundamental Outlook

    This week we have a number of high impact Fundamentals that we will be looking forward to trade as they comply with our Fundamental Trading Strategy.

    1. CPI (CAD) , On Wednesday we looking for a Bullish impact on the CAD  as the previous is too far from the Estimate Average Range

    2. Core Retail Sales (CAD) , On Friday we looking for a Bullish impact on the Canadian Dollar

    Technical Setups

    Below are the technical trade setups we will be looking to trade during the week.

    UsdJpy

    The dollar Japanese Yen pair has faced a lot of negative price action in the past week due the FED interest rate drop that happened two weeks ago, the dollar is currently recovering its losses causing the UsdJpy to move back up. currently the market has formed an inverse head and shoulder pattern.


    Dollar Index

    The dollar index is currently on a bullish run as it has closed on two bullish pinbar setups that formed last week Friday after the retracement.
    Previous Setup




    AudUsd

    The AudUsd has been forming a bearish flag formation, we will be looking for a breakout to happen at the bottom of the triangle before adding sell positions. on this pair we looking for price to reach 0.65800 which is 200 pips from the current prices.

    100% Bonus



    UsdChf

    We have been holding buy trades from our last commentary last week and we looking for a continued bullish movement on the pair. we greatly recommend on traders to add bullish positions at a close above 0.98100
    Previous Setup

    On the Setup below price has moved from the OTE bullish zone and have confirmed our bullish view as price has reached fib level 61.8 in which we will be looking for more bullish price action patterns before adding more bullish trades on the pair.


    EurUsd

    The Euro dollar has been in the eyes of many traders these past weeks, last week our clients made some good money based on a sell signal we gave last week.
    Previous Setup



    We believe that this article will help simplify your trading this week and please note that these setups are created with high knowledge based on institutional order  and please note this does not mean you should neglect a proper risk management plan.

    Sifiso Nkwanyana

    Author & Editor

    I hope you have recieved all the information you seek and thank you once more for browsing our website we hope to hear from you soon.

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