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  • Monday 16 September 2019

    Forex Weekly Setups, 16th September to 20th September 2019

    This week has very good opportunity with a number of interest rate release events which will create new trends and also continue other forming trends in the market, the dollar has shown some huge indecisive movements last week causing pairs like EurUsd to push high.

    Fundamental Outlook
    We have a number of tradable events this week as we will be looking to trade the dollar interest rates and a number of events that fully qualify with our fundamental strategy.

    1. CPI (CAD), On Wednesday we looking for a Bullish Impact on the Canadian Dollar as the given forecast is very much below the Estimate Average Range.

    2. Federal Funds Rates (USD), On Friday we looking for a Bearish impact on the USD  as of our Fundamental Direction Strategy.

    3. GDP (NZD), On Thursday we looking for a Bullish Impact on the New Zealand Dollar as the given forecast is very much below the Estimate Average Range and previous is on the lower EAR zone.

    4. Employment Change (AUD), On Thursday we looking for a Bearish Impact on the Australian Dollar as the previous is very much above the Estimate Average Range.

    Technical Setups
    Below is a couple of setups by our skilled team of traders, irrespective to our success rate please remember stick to a proper risk management in your trading.

    Dollar Index

    The dollar index has been held by a strong resistance zone at 98.650 level, we will be looking for a sell off on that level as shown on the setup below, we will wait for possible price action sell signals to form before making entries.


    On the NzdUsd we have an inverse head and shoulder pattern formation which supports our bullish view on the pair, we will be looking for a close above the 0.64000 zone.


    Last week the Cad lost strength which pushed price above the OTE fibzone on the GbpCad pair which has given the market favor to the bullish side of the pair, we will be looking for a rejection to push price back towards the OTE fibzone before adding positions on the pair.


    The dollar swiss played very well last week as price respected our analysis, this week we will be looking for a further selloff on the pair.


    last week the AudUsd has shown bullish price movement which has been delayed at the 50.0 fibzone, we are anticipating a break and push price up to 0.70200 which is at the Fib BAT zone.

    We believe these setups will help simplify your trading this week, please stick to proper risk management and also invest in improving your forex trading education for better quality trading.

    Sifiso Nkwanyana

    Author & Editor

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