Though I’m able to consistently record my trades in my trading journal, wish I’m also consistent in my blog posts on weekly recap (that’s gonna be one of my goals in September). Anyway, before I do the recap from 8/15-26, these are economic news times (in GMT +8) and the zones I’m looking out for this week:
EURUSD – ranging but highly possible sell trend soon; after Janet Yellen’s speech during the Jackson Hole Symposium last Friday and Stanley Fischer’s remarks about September rate hike afterwards, the USD is poised for a come back. Though I personally feel like the Fed just continues on with its red herrings because they might only increase rate on December to avoid risks on the upcoming US election, I’ve still created some setups to ride the current sentiment and expectation of stronger USD in the coming weeks. For this pair, I’m waiting for a breakout in 1.11586 hourly zone and added a sell stop order a few pips below it. Looking forward to close this trade with a profit before the NFP news on Friday.
GBPUSD – sell trend; highly probable that the price will continue dropping beyond 1.30064 but I added a tight stop loss because it’s possible that this pair might bottom out soon quick and bounce back up again to 1.32424 daily zone.
AUDUSD – ranging; this pair’s previous buy trend seemed to stop and is now ranging near the 0.75658 daily zone. Waiting for it to drop to 0.74897 hourly zone, or below before I add more sell stop orders.
USDJPY – buy; in the higher timeframe charts this pair still continues its sell trend, but in the short term, USDJPY is in a rally and might reach somewhere near 103.923 before continuing its usualy drop again–except if the Fed decides to raise interest rate on September. Also looking out for the next BOJ meeting on September to confirm that this is already a reversal and not a rally anymore
EURGBP – buy trend; it looks ranging on the lower hourly timeframe, but unless there are new developments as to how Brexit will go, or the Fed hike pushes through in September, this pair will continue to climb up further past the 0.86307 daily zone.
USDCAD – buy; I can’t tell if this pair is already starting a buy trend as it looks ranging to me in higher timeframe charts. Regardless, I added a buy stop to ride the current sentiment on stronger USD. Waiting for this to climb up to 1.31254 daily chart, and probably even break it.