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Forex Plays of the Week: 17th February

Something a little different from us this week as Chartground’s FintechDaddy runs you through a play by play in a significant week coming up for the Forex markets.

This week in particular represents a busy week for AUD/NZD/JPY

EURUSD/GBPUSD

Below is a play by play featuring all of the major news events of the coming week:

Monday

  • EUR German Report
  • USD – Bank Holiday

Tuesday

  • EUR
    • Current Account
    • German Sentiment
    • Economic Sentiment.
  • GBP
    • Average Earnings Forecast to be 3.5%
    • Unemployment Rate – STAY FLAT
    • Claimant Count Change – DECREASE
  • USD
    • housing market Index – Forecast to be Higher at 59

Wednesday

  • EUR
    • PPI to decrease – become more positive at -0.2%
  • GBP
    • CBI Industrial expectations to be -5 from -1 previously
  • USD
    • FOMC Meeting Minutes – Significant event

Thursday

  • EUR – Significant Day
    • All morning French – German – Flash CPI
  • CAD –
    • BoC/RBA SPEAK – Major event with the following
    • NFP- Change
    • Wholesale changes
  • Usd – Significant Day
    • Manufacturing Orders all expected to increase! GBPUSD / USDJPY
    • BCO/WTI coming into play with Naturl Gas and crude oil Storages

Friday

  • Significant day for EUR/USD GBP/USD
  • EUR
    • German GDP – TO STAY FLAT
    • Core CPI – ALL EXPECTED TO STAY FLAT
  • USD
    • FOMC Members to speak

EUR/CHF

  • BREAKDOWN BACK to 1.12615
  • Likely to go throughout the week as evident by the double bottom to go during the week to 1.14032
    • Last week saw a lot of STOP RUNS to the downside -8 PIPS every time this occurs.
    • DOUBLE TOP to 1.123552
    • Watch to the upside of the 200 MA: this will see a breakout to 1.14032.
      • This level is 1.136
EUR/CHF

USD/JPY

  • 110.373-110.555 – BREAK DOWN if it jumps below here
  • A lot of runs to the downside.
  • JPY SUNDAY WE WILL SEE A MOVE  FROM MACHINERY DATA
  • TRADE BALANCE ON TUESDAY before Manufacturing PMI’s
  • Slow week
USD/JPY

EUR/USD

  • Declining Wedge – lost momentum however accumulation and buyside picked up
  • If we see a fall during Monday we will see it FALL BELOW 1.12314
  • FA on Monday is Monthly report befoee Tuesday is Current account and Sentiment leading into the Wednesday-Thursday as a lot of CPI/PMI
  • Monday – we will see it breakdown to 1.127

BCO

  • Volume gap needs to be filled at 68.57
  • Trading ABOVE THE 15MA – will beused as support
  • Heavy Buy-Side will USE CHINESE TARRIF’S as Momentum to continue higher

XAU:

  • Triple bottom at 1304 –
  • Volume Gap at 1316.547
  • Instability from tarrifs – as soon as it is announced we will see a downside with upside to BCO/WTI

GBPUSD

  • 200MA 1.129596 we might see a pull back from this level
  • Upper resistance level as well can be seen around 1.129283 – a break to the upside will see 1.30293 as result of US SHUTDOWN.
  • Volume gaps need to be fulled at 1.129283-1.2940 likely to be filled during the week.
  • Using the 55MA on the 4H as Support.
GBP/USD

USD/CAD

  • Breaking down – if we see the week open below 1.3246
    • We will see momentum to the downside to 1.3170
  • CCI & Accumulation indicates that we will see a reversal incoming as the 1.32426 level is a volume gap area – this would see a double bottom and a move to 1.33360
  • Cad = RETAIL SALES on Friday
USD/CAD

GBP/JPY

  • GBP will be the leading indicator this week especially with Brexit uncertainty and USD Falling from the Government Shutdown.
  • Tuesday-Thursday are fundamental days.
  • 4H crossover to the upside could see a breakthrough of 142.762 – 143.567 during the week. Indicators are illustrating momentum contining also.
  • 144.33 is the ultimate area to go
GBP/JPY

About Fintech Daddy

FintechDaddy is relentlessly passionate in his technical Analysis for both CryptoAssets & Forex. 

Join his Charting Playground available exclusively on Telegram. There you are either a teacher or a learner. http://t.me/Chartground 

Stalk him on Twitter: https://Twitter.com/FintechDaddy

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About Fintech Daddy

Fintech Daddy
FintechDaddy is relentlessly passionate in his technical Analysis for both CryptoAssets & Forex. Join his Charting Playground available exclusively on Telegram. There you are either a teacher or a learner. http://t.me/Chartground Stalk him on Twitter:

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