Week In Review – Week of August 14, 2016
Last week was a great week for swing trading as many pairs pushed into the Overbought/Oversold areas.
The strength in the Japanese Yen continued throughout the week while some of the trending currencies, such as AUD and GBP, are now retracing.
Currencies that I identified as being neutral last week have since taken a directional bias as noted below.
Watchlist – Week of August 21, 2016
While some of the trending pairs are retracing on the Daily timeframe, my primary focus for swing trades will be to look for increasing strength in EUR and weakness in USD. My secondary focus will be to look for AUD strength to resume as this currency is nearing a major level of support.
JPY is still strong, but is showing evidence that this currency may start a correction.
At this time, I am not interested in any bearish GBP swing trades as this currency is going through a correction.
Strong Currencies & Pairs
- AUD, CAD, CHF, EUR, JPY, NZD
- EUR/USD, NZD/USD
Weak Currencies & Pairs
- GBP, USD
- USD/CAD and USD/CHF
Swing Trades Review Video
In this video I review every swing trade taken this week using my swing trading strategy. Use this video to further your learning. Click here to watch the video.