Weekly Trade Plan for September 16th – 20th, 2019.

You are welcome to another edition of our weekly trade plan.

The common currency pairs such as the EURUSD and GBPUSD have not given us something interesting to talk about so we will be on the side lines.  

This week we will be looking at the NZDUSD, EURCHF, EURJPY. 

Make sure you join the free trading room to stay up to date with the daily outlooks on several currency pairs.

NZDUSD

Due to the formation of the bearish pin bar at the 0.6426 support region and the 25 EMA , we expect the Kiwi to fall further aiming at the 0.6298 region and beyond..
However, if you are currently not in the sell trade after the formation of the bearish pin, it would be best to

Be patient and watch for some buy pull back towards the 0.6426 region to go short.

 

Also looking at the MACD on the 4H chart we can clearly see the divergence showing downward pressure.
Also price is clearly trading below the 25 EMA and middle bollinger which also indicates that the bears are favored.

A daily close above the 0.6448 region nullifies this outlook.

EURCHF

The formation of the long bullish pin bar cutting through the 25EMA and support region clearly indicates bullish momentum. However, for a positive risk/reward we expect price to retrace to the 1.0897 region before we think of going long on this trade targeting the 1.1158 region.

A daily close below the 1.0830 region nullifies this outlook 

EURJPY

A similar outlook to the EURCHF applies here. A retracement to the 118.119 region gives us a good  trade set up to go long and target the 121.00 region.

A daily close below the 117.12 region nullifies this outlook.

 

Have a great week ahead!!

Feel free to share and drop comments. You can send a message to support@forexdorm.com If you will like us to provide you with a weekly trade plan for a currency pair not listed above. 

Do not forget to sign up for our free trading room

At ForexDorm we are dedicated to Creating Winners & Nurturing Success. Now that you are here, you have no other choice but to win with us.

COPYRIGHT © FOREX DORM. ALL RIGHTS RESERVED

Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubt.

Pin It on Pinterest

error: