IYF17th - 21st June 2019

Head Trader Market Watchlist:

Hello Trader’s!

Welcome back to another week in the financial markets! I hope everyone had a great weekend?

We ended the week with some nice moves especially with EURUSD, EURJPY & CADJPY and it would appear that liquidity is now re-entering the market.

What a week we have in store! Big fundamentals ahead so expect some movement and volatility.

Lot’s of pairs within key areas and some fantastic opportunities ahead. Let’s take a look at some of my favourite set up’s and the overall direction of the pairs on my watchlist.

Please take a look at the ‘Forex Factory’ economic calendar below, fundamentals to watch out for include;

Monday: ECB (EUR) Draghi Speaking

Tuesday: AUD Monetary Policy Minutes, ECB (EUR) Draghi Speaking, BOE (GBP) Carney Speaking

Wednesday: GBP CPI, CAD CPI, ECB (EUR) Draghi Speaking, FOMC Statement, NZD GDP

Thursday: RBA (AUD) Lowe Speaking, JPY Monetary Policy Statement, GBP Retail Sales, Official Bank Rate, & Carney Speaking

Friday: EUR PMI, CAD Retail Sales

IYFDXY (Dollar Index)

Weekly - The USD bulls came charging back into the market towards the end of the week closing nicely above 97.00. As we failed to break below the trend line can we see one last push higher? Wednesday could be a very interesting day for the Dollar.

GOLD

Weekly - Looking at weekly and the significance of the huge doji candle printed, we can see that having rejected the outer structure of this channel for the third time price failed to break above 1350 yet again. I will now be looking to sell this commodity upon a valid entry.

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EURUSD

Daily - Following from its last impulsive move to the upside price stalled around the trend line of this outer structure and created a double top before rolling over. The last 3 days of price action provide enough evidence for us to look for continued selling opportunities. Will we create a triple bottom around 1.1110 before reversing?

EURAUD

Daily - Resistance was broken (1.6250) and we have now retested the outer structure of this expanding formation. Notice the tweezer tops candlestick formation at the top of this structure which is a fantastic reversal signal from the market. We can look to sell the retracement as I do expect some downside momentum coming into play with this pair.

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EURNZD

Daily - As the NZD weakness continued throughout last week, resistance at 1.7150 was broken and price is now testing the outer structure of this expanding formation. For those with a higher risk appetite you may want to sell from the top. Alternatively we can look for lower risk entry on the break of the trend line taken from the previous low. Please note this does also have the ability to push even higher so our stop loss management needs to be tight.

EURGBP

Daily - Price is now clearly decelerating after a very over-extended daily time frame. Notice the multiple spinning top and doji candles at the top of the range. We are now rejecting out of a major liquidity zone (0.8900 - 0.8950) and also our Fibonacci Golden Pocket. A solid break below the trend line will confirm selling opportunities.

IYFUSDJPY

Daily - Nothing has changed for me since last weeks analysis with this pair making a sequence of impulse and corrections since rejecting 112.00. I will be looking for short opportunities as soon as the market provides us with enough confirmation. Downside targets will be the lower structure around 106.00.

USDCAD

Daily - Price rallied higher than expected and is now looking very impulsive. There could be a short term buying opportunity with this pair but the long term SELL is still very much in sight. Due to Friday’s candle closure I am expecting price to drive higher so we just need to plan and identify areas of value for us to be selling from. A rejection of the 61.8% & trend line (acting as dynamic resistance) would be our first area but this does have the ability to push into 1.3500 and we cant rule out a third touch of this channel which would give us a HUGE selling opportunity!

IYFGBPAUD

Daily - Since breaking above the Daily descending trend line and Weekly Level of 1.8250 we never received the confirmation from the market to sell this pair. We can expect this corrective phase to last a little longer now and we could be looking for short term BUYING opportunities if we retrace and reject around the level of 1.8250. There could be nice 200-250 pips on offer to the upside. I will only be interested in buying this pair if we get a decent retracement. Please also take a look below at the Weekly 3 pin candlestick reversal formation.

GBPAUD

Weekly - Weekly time frame looking promising for a push higher. 3 pin pattern.