9 Free Forex Trading Signals For July 10 – July 14 2017
How did the setups below play out?
AUDCHF – Last week held a bullish ending as price compressed at highs of a large move which is more bullish than bearish. Weak rejection July 11 sets up a buy stop trade at highs. 160 pips although more advanced traders would have taken the trade on July 10 when price closed at July 9 highs.
AUDUSD – No second leg down and overbought condition was worked off in the 3 day consolidation. Micro trend line broken to the upside and a simple trend line break trade for 190.
CADJPY- Continued to higher prices but early week upper shadows at resistance were not condusive to a trade. Look at this weeks update.
CHFJPY – We mentioned a lot all the bearish quailities and confluence in this pair when it was posted. The push up and rejection on Monday set you up for a sell stop of lows for a beautiful price action short of 150 pips.
GBPAUD – You can’t make this stuff up! Price broke the trend line to the downside, small bearish range on Monday sets up your short for 290 pips.
GBPJPY – Upside was in danger as written and price dropped 130 pips from inside candestick on Monday. Price quickly recovered and traded back inside the channel.
GBPUSD – Wrote resolution into top of channel…and that’s exactly what happened. Test of channel and break of first bull candlestick lead to 200 pips in this pair.
NZDCHF – Break of consolidation to the downside but quick buy back up. Nothing to trade.
NZDJPY – Still battling at resistance.
Short trading week last week produced a few daily momentum pushes but a lot of charts are in odd formations that need further resolution.
We still managed to have a potential of 436 pips depending on your swing trading strategy.
My friends over at Netpicks are offering a free trial to their trading room for those who may be interested in a systematic day trading approach.