Weekly Charts – Things To Think Of Over The Holiday
Dec 25 – Jan 5 2018
How Did We Do?
USDJPY – Continued it’s range
USDCAD – This long consolidatoin broke and the USD weakness that I wrote about broke loose. 270 pips depending on your entry
GBPUSD – Broke upside for 195 pips and is struggling at former highs.
EURUSD – Continued it’s bullish run for 140 pips
AUDUSD – Simple trend line trade kept upside for 157 pips. Are you still holding a position? Remember, the weekly chart is still not convincing for longer term trades.
A few opportunities were posted last week and as expected, no big runs in price but a few trades that setup for both directions as the week unfolded leading to a max potential of 424 pips. I’d be extremely cautious of entering any trades during the next few weeks.
Going to take a look at a few weekly charts. Getting trades off on weekly patterns using daily price action triggers can often be great longer term trades