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  • Tuesday, 27 August 2019

    Forex Weekly Setups, 26th August to 30th August 2019

    Last weeks technical articles achieved a 100% success rate in our weekly Forex commentary, having to see the dollar experiencing some major pullbacks before the market closed on Friday evening, This week we will be looking on new opportunities in which we will be looking to make some profits out them.

    Fundamental Outlook

    This week we have a very few fundamental trade opportunities to trade which comply with our fundamental direction strategy, the fundamentals are as follows.

    1. Prelim GDP (USD), On Thursday we looking for a Bullish impact on the USD  as the previous is below the Estimate Average Range.

    2. GDP (CAD) , On Friday we looking for a Bullish impact on the CAD


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

    UsdCad

    The dollar cad pair has faced a lot of rejections at the 1.33400 resistance zone in the last two weeks which has resulted on a sell off happening on Friday due to the dollar sell off. the pair continued on the sell as markets upened this morning.



    UsdChf

    The dollar Swiss has been consolidating below the 0.98150 area for the previous week after it had rallied from the 0.96800 support zone, Friday it experienced a major sell off and was able to quicky recover as the markets opened.


    UsdJpy

    100% Bonus

    The dollar Japanese yen is currently at a bullish stance with price at the 106 support zone looking forward for price reaching our 108.400 target area.


    GbpCad

    The market sis currently moving on a bullish trend channel, the last candle as shown on the analysis below is a bullish outside bar which shows a high bullish potential on the market place to push price back up to the OTE area before experiencing sells on the pair.

    GbpJpy

    There is a very great opportunity on the Pound Yen pair for buyers as the pair has an inverse head and shoulder pattern together with bullish price action buy candles which includes pinbars and outside bar that has just formed on the currency pair.

    We believe that these setups will help you prepare for a more successful trading week, please use proper risk management skills to help you trade more profitably, all the best from the Ajaxsurf team.

    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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