The EUR/USD price path last week began 1.1287 to 1.1183 then a bounce with NFP assistance to 1.1302 – 1.1223. The original weekly entrry was 1.1294 to 1.1321 and fairly wide for last trading week as well the price path was a  trap.

EUR/USD performed the nasty feat of round 2 shorts and not normally seen from EUR as it pertains to weekly trades only. GBP yes but rarely EUR as EUR traditionally over the past 28 weeks since January traded a really great and highly predictable price path. Same status for EUR/JPY and EUR/AUD. Horrible for EUR/NZD.

If GBP/USD is susceptible to round 2 shorts for certain weeks then it automatically applies to its perfect opposite, USD/CAD and this has been the case over the past 28 weeks.

Wide range pairs GBP/NZD and EUR/NZD traded all over the place.

A side bar, we’ve just completed a deep analytical quantification to weekly trades since January per 18 currency pairs.

While a computer provides assistance and analytical views to trades, targets, entries and profits, it sometimes fails to capture weeks with certain nuances to trades. A computer for example failed to see last week’s EUR/USD break point at 1.1223 and the trade if a break occurred or not. Not sure for computer analysis to multiple longs and shorts per currency pair as the results to overall analysis is still hot off the presses.

A computer is as good as it is told what and how to analyze. It assumes the operator is informed to analyze perfect and correct prices and this is where deception lies, especially to performance and results.

 As weekly and long term trades are factored by pen, paper and calculator, the best and true analytical approach is to factor weekly trade results by pen and paper as we’ve done for years. And this despite good results from the computer.

EUR/USD target at 1.1158 failed to achieve destination.

Weekly Trades and Results as posted last Monday

EURCAD

Short 1.5398 and 1.5416 to target 1.5231

Highs 1.5428, Lows 1.5208

target achieved

Trade Ran +185 Pips from 1.5416

2nd Leg

Long 1.5231 to target 1.5305.

Lows 1.5198, Highs 1.5355

target Achieved

trade Ran +74 pips

2 trades +259 Pips

GBPUSD

Long 1.2293 and 1.2278 to target 1.2483.

Lows 1.2251, Highs 1.2490

Target achieved

Trade ran +212 pips from 1.2278

EUR/USD

Short 1.1294 and 1.1321 to target 1.1158.

Highs 1.1287 and 1.1302, Lows 1.1185

Trade Runs +97

Overall close expected 1.1160 to 1.1187.

3 trades, +568 pips.

Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD: At risk of extending its slide

The greenback closed the week appreciating against most major rivals, although EUR/USD settled in the 1.1780 price zone, holding on to modest weekly gains. EUR/USD decline corrective on the broader view but could extend its slump in the shorter-term.

EUR/USD News

GBP/USD: Limited bearish potential

The GBP/USD pair finished the week with modest losses at 1.3050, giving up to the dollar’s demand at the end of the week. The Cable is trading above the 1.3000 level, which limits the bearish potential.

GBP/USD News

Gold: Acceptance above $2050 critical to revive the uptrend

Gold’s record-breaking rally could resume on a sustained move above $2050. RSI on 4H chart stays in the bullish territory, pointing to the upside. XAU bulls to buy the dips around $2010 in the week ahead?

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI extends slide toward $41, on track to post weekly gains

Crude oil prices continued to fall on Friday and the barrel of West Texas Intermediate (WTI) touched a daily low of $41.05 before recovering modestly.

Oil News

Forex Majors

Cryptocurrencies

Signatures