The difference between the success and failure of Forex trading is likely to depend on the currency pair you choose to trade each week, not on the trading methods you might use to determine your entry and exit points. Each week, I will analyze fundamentals, trends and technical positions in order to identify currency pairs that are likely to give easier and more profitable trading opportunities during the following week. In some cases, it will be traded with the pattern. In other cases, the levels of support and resistance will be traded through the more volatile markets.
In last week's analysis, I expected the best trading to be for the NZD / USD and AUD / USD. Unfortunately, these trades were losing. NZD / USD fell 1.44% and AUD / USD dropped 1.36, giving a loss of 1.40%.
Last week saw a rise in the relative value of the Swiss franc and a decline in the relative value of the Australian dollar.
Last week, the Forex market was very calm and choppy, with no major headline news moving prices at all.
This week most likely to be under the control of the US gross national product data, the minutes of the committee meeting FOMC
Basic analysis and market trends
The fundamental analysis still tends to support the USD, as the fundamentals of the US economy remain strong. It seems that sentiment is still in favor of the USD, as despite strong sell-offs in the equity market, economic fundamentals are still considered to be broadly strong, although there is a growing sense that the Federal Reserve should defer rates to avoid a lull The economy is overheated: some economists now say that economic growth is already falling.
Key factors remain bearish on the JPY, but this currency can benefit from the flow of money into safe assets due to risk aversion.
Brixset is still unclear, as the British parliament is preparing to vote on the draft draft convention next month. It now seems that the government will not be able to get approval for the deal.
The next week is likely to be under the control of the USD. In general, the market is weak for traders.