Weekly Predictions and Ideas 8th July 2019

Welcome back to another weekly predictions. Quiet week in terms of news this week so we can begin to see some more ‘natural’ movement. In terms of technicals there is a few opportunities on the radar here and there but as mentioned before the markets are entering a consolidation stage.

Euro is consolidating and has put a decent move to the downside within. There is some room to go down to the red line and now we are putting in a flag type pattern which we can expect to break to the downside. I already have an FTB entry into it which I am happy about and expect it to at least not be a full loss. GbpUsd is retesting support and just consolidating. However on the 60 we have a strong break and impulse which wouldn’t be surprising to me if we retested the lows or got some sort of bearish reaction at least which I would be looking to get in at.

AudUsd we have a double to which technically didnt close above but it is depending on your rules how you approach it. Similar to the EurUsd we have a nice flag type pattern forming. However I dont really have a bearish bias on this so even if I predict a potential break to the downside I don’t think it is as high probability sa the euro. GbpAud we are at support currently so you can look for a buying ooportunity to carry it up to the red line or zone above.

Aside from that this week I tried a slightly different approach in terms of the weekly predictions. It is more in depth so check it out and let me know what you think.


Published by Lach Plays Trading

I'm a forex trader whos journey began January 2018 and has had its ups and downs but has taught me a lot about the markets and myself as a person. Documenting my journey and sharing my experiences for you to be able to learn from them and my prior mistakes. Fully transparent, not afraid to show losses or speak exactly what comes to my mind.

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