Weekly forex trading technical analysis

Posted by on Aug 19, 2012

By David Ruscelli


This post in italian

As usual this is the post where we outlook forex markets and trade with technical analysis.

I remember you that this is an article about classical trading but non-directional trading strategy is a different way to trade, based on mathematical and it doesn’t have the troubles of the standard way of make trading, non-directional method produce a 5% average monthly gain. For more info about non-directional trading strategy go to this page.

Economic Calendar

Next week take a look on wednesday, there’s the FOMC, the meeting of the agency that manage USA monetary politics. This event could reflect in the markets with big volatility on each currency quoted agains USD, example EUR/USD

 

 

XAU/USD

Obvious ranging market, now we are on 1620 us dollar per oz, the friday’s candle bounced off this resistance doing a very obvious upper shadow.

Probably next week we’ll see a short signal (sell) and then we’ll be ready to take it short up to 1540 as last target.

XAU/USD D1

 

GBP/USD

Here there’s the same situation as for the gold, ranging obvious market from many monthes, now we’re on the max key level and it cause many bounce candles. We are awaiting an obvious short signal for trade short up to the 1,4520 or a strong break out of 1,5730. In that case we’ll see what to do.

 

That’s it for today. Have a good tradidng!

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