Ticker tape by TradingView

Want Trade Alerts?

See all of our entries, exits, and analysis. 
Use code READER for 25% OFF!
Join VIP

Forex Pairs to Watch This Week

As certain fiat currencies weaken, troubles with oil demand, stimulus packages being discussed and gold rally halting, our team is looking at specific pairs that we think will be good to consider trading throughout the week. Here's what we're looking at:

BullsBears
AUD/USD- Analysts expect price to rise to 0.72 by the end of the year
- Australia relies on gold production as gold prices pass highs
- USD will likely see more demand as long as interest rates stay above 0%
- HEALS Act could prove effective in US, causing a drop in the pair
- Price is showing signs of being overbought
EUR/USD- Highest bullish sentiment since COVID crash
- Euro preferred over the dollar as USD weakens
- Investors favor EU stimulus package over US's
- The pair is running into resistance levels as bull rally takes a break
- US federal interest rates expected to remain unchanged
- Analysts think Euro is running out of momentum
CAD/JPY- CAD's GDP m/m expected to be much higher than last month
- JPY's unemployment rate expected to rise
- USD weakening could stimulate oil price (Canada's economy depends on oil production)
- If oil demand continues to drop it, would hurt Canada's economy
- Resistance lies around the price of 80

AUD/USD

Prices come back up to recent resistance levels on the daily chart. 14-Day RSI marks 70 which signifies it's overbought. Short interest sits here as price consolidates. If prices can break and close above .72, it would be a good sign for bulls, but until then, short interest remains. Gold prices show slow down in rally as AU's rally may be dwindling.

EUR/USD

EU on the hourly chart showing multiple tests on that resistance with no success. Meanwhile a wedge forms and prices get pinned between the rising trend line and 1.17430s level resistance. The rally is on pause waiting for the Fed and stimulus announcements in the coming days. Similar to AUD/USD, our sentiment remains short unless resistance is broken.

CAD/JPY

Cad Yen on the 1D chart showing some short term bullishness as price hits rising trend line. Long wicks form on the two previous candles showing indicating buying pressure that price wants to come back up to test resistance. Looking to the 200 Day Moving Average for resistance should the pair come up to this level.

Featured Pic: https://interesting-indeed.com/blog/v1/wp-content/uploads/2019/11/forex-trading.jpg


Thanks for reading! If you are interested in joining our trading community, we have chat rooms, trade alerts from our top traders, and educational content. You can join using the link below, and get a discount on your membership.

Disclaimer:

Please note that this email is my personal opinion only. I am not a licensed financial advisor, and any information shared or discussed is not to be construed as investment advice. Trading and investing involves a degree of risk, and is not suitable to all investors. Please consult with your financial advisor before making any sort of investment decisions.

Get Alerts every time we take a trade!

Join The VIP Community!

Our entries, exits, & analysis
Live webinar coaching calls
Trading chatrooms
Strategy library
Use Code "READER" for $5 OFF!
Join Now

Need a Better Broker?

Bitcoin, Ethereum On Sale Again

9/24/2021 The People's Bank of China banned all crypto transactions on overseas Chinese services along with its domestic ban. Bitcoin is down over 8% today and Ethereum is down 11.48%. Our outlook I think we're seeing a lot of noise around China and their condemning of cryptocurrencies before they digitize their own. In the short […]

Read More
What's To Know After The BoE's Monetary Policy Summary

Let's look into the Bank of England's Monetary Policy Summary which took place on Thursday the 23rd of September, 2021. Quick Summary: BoE keeps interest rates unchanged at 0.10% BoE will maintain its asset purchasing target at £875B The vote to keep policy unchanged passed with a 7-2 vote The minutes of the MPC meeting […]

Read More
Is Gold A Buy Here?

9/23/2021 The precious metal snapped three days of gains and tumbled back down to the support range from $1740s-1760s approximately. Gold is down -.56% on the day going into the opening of the NY session. Our outlook Gold will likely rise on the US indices falling, and is usually due to slowing economic growth. Because […]

Read More
Bitcoin Goes On Sale- Golden Cross Opportunity

9/21/2021 Bitcoin Update For the past month, Bitcoin went on a tear rising over 20% from the beginning of August. Recently, however, China and other risk-off factors have contributed to a 23% decline from the recent highs around $52,760. Now the most prominent crypto has touched these monthly lows which could be a potentially good […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here

A1 Trading Company

A1 Trading Company is a financial services and media business founded in Atlanta, USA.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram