As some of you know, I have teamed up with Robbie Stephenson to bring together fundamental and technical skills to make trading decisions. Today we would like to share our approach by discussing the pairs we are currently trading, the ones we are monitoring and why and how we pull all the relevant factors together.

Please note, we are not a tipping service and are discussing ideas for your own research and practice.

On to the pairs,

Please also be aware of this very choppy and unpredictable market. We have only 2 open positions and they are both half a percent. We are likely to review and close stops tomorrow before the NFP on Friday!

Starting with our open positions;

USDSGD

I posted my fundamental blog on Monday in the guest blog area and all our decisions flow from that viewpoint. We do not even look at a chart unless it has underlying fundamentals that warrant it and then we already know in which direction we are trading. Then we can open the chart!

Briefly and by way of review, we are trading the strength of the US against an emerging market suffering from export difficulties to China.We opened a position at 1.3688 last Wednesday. We entered on the pullback into S/R . This was a half percent position and we closed before the stop was hit on a technical review.

We are looking to re-enter this next week, ie after NFP on Friday and will reassess on Monday.

 

 

USDCAD

The first half position was at 1.2455. The trendline has been tested seven times. Stops initially at 1.2340 now at break even. We focus on this pair in the attached video;

 

 

 

EURUSD

We were watching this one for a break below 1.0800, or rally to 1.10 at the 50% retracement Fib for a short, and it has since broken down to 1.0749. We decided there is too much volatility, thin volumes and data this week so we will reassess and may seek another entry next week.

 

EURNZD

The chart shows the Fib levels and preferred entry is at 38th fib, H4 S/R,  1.47826 (intersecting trendline); this is on the radar for next week …

 

 

The 23rd fib level represents an aggressive entry, although it is ranging here and will need a catalyst to pull back to 38th fib. There are dairy numbers due today could provide it but will wait Friday’s event and the holiday weekend to finish. The Bollinger bands are tightening so expect a break out of the range either side setting up an entry.

Please remember these are not trading recommendations just ideas for practice purposes only… preferably in a demo account!

 

Judith Waker

Robbie Stephenson

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