Hello Traders!
The mysterious markets continue…. Did not expect the markets to range this week for AUD/USD and GBP/USD. In the meanwhile, BOTH USD/CAD and EUR/USD went down. If I was trading the markets, I would’ve definitely had one of those WTF moments this week.
- USD/CAD just went haywire since it should’ve been the opposite of EUR/USD so this is a loss.
- Since I took the loss on USD/CAD then EUR/USD should’ve been a won.
- GBP/USD ranged, it opened in the middle and went about 45 pips down and up. Therefore, no clear direction.
- Lastly, AUD/USD was negligible since it changed about 10 pips since last week’s close.
- This is the first time I’ve had all 4 results in the same week: win, loss, tie, no movement = 50% again….
Based on this week’s mysterious performance, I’ve decided not to make any forecasts this week. I’ll still draw the projected paths on the H4 chart but I won’t have a write up this week. I’m focusing my attention on finishing off some more Youtube videos before school starts on Aug 20th.
Monthly Chart
Weekly Chart
Daily Chart
H4 Chart
Commentary / Technical Forecasts:
As noted above, I have no forecasts this week. You can refer to the H4 chart for projected paths for this week. Take note, all of the pairs have some room to retrace prior to making a move.
Until next week, Safe Trading!
Brian