Weekly Analysis Jan (18-23)

Weekly Analysis Jan (18-23)

EURUSD Sold (1.1550) Bought (1.6090) -50 Pips

EURJPY Sold (135.88) Bought (136.38) -50 Pips

CADJPY Sold (98.15) Bought (98.80) -65 Pips

CADJPY Sold (98.30) Bought (95.64) +265 Pips

GBPUSD Sold (1.5120) Bought (1.5170) -50 Pips



EURUSD

We took a short positon 1.18.15 anticipating the EURO will remain bearish amid the elections. Our position was countered by a small bullish rally that clocked us out at our stop around 1.6090. Even though the EURO remained bearish for the week, our daily position wasn’t fit with our strategy to hold more than our anticipated stop loss.

Further Expectations

We are bearish the EURO leading into the elections. We are expecting a bullish rally that may lead to a possible setup around 1.14250 Resistance that can trigger a short position for a longer term perspective.

***This chart was recorded on 1.23.15***

EURJPY

Our short position was entered around 135.88 anticipating a weaker EURO and a stronger YEN for the weak. An unanticipated bullish rally from the EURO led to our stop loss being triggered around 136.30 Resistance. Our position was exited to prevent any further losses.

Further Expectations

Bearish.

CADJPY

Two trades were made with the CADJPY; one Daily and another Weekly. Of course our Daily trade had a shorter term perspective that the CAD will weaken against the JPY this week. As expected, the CAD did weaken, but it trigger our shorter term stop loss on our daily trade around 98.90 Resistance. Our Weekly Trade (which has a longer term perspective) survived the rally leading us to profit around 95.60 Support. Our position was exited to protect profits and eliminate any losses.

Further Expectation

We expect a minor rally toward 95.30 Resistance before we see any further bearish movement south

                       

GBPUSD

Our expectation for the week was a stronger Dollar against the Pound. Our trade was entered around

1.5120 Resistance during a minor rally northward on 1.20.15. The rally continued northward triggering our stop loss before trending south as we expected. Our trade was exited to prevent any further losses.

Further Expectation


Bearish.