FX Trading Ideas for the Week | Oct 29-Nov 2, 2018

By Aiza Belle | 29 October 2018 | | Share:

Trick or treat?

Before you proceed, make sure to read and understand this Disclaimer here and TRADE AT YOUR OWN RISK.

AUD - Buy

As mentioned previously, AUD is already oversold and most likely due for a correction, if not this week then in the following weeks. Expecting a bounce up soon unless there's another news about the Chinese economy and trades which affect AUD.

AUDCAD - Wait for breakout near 0.92836 then buy up to 0.93607

AUDCHF - Wait for bullish confirmation past 0.71187; or scalp and short rally

AUDJPY - Wait for bullish confirmation past 79.559

AUDNZD - Wait near 1.08948, then sell if it starts to bounce down and consolidates

AUDUSD - Scalp and sell (but be careful), or wait bullish confirmation past 0.71

EURAUD - Wait for bearish confirmation past 1.60

GBPAUD - Wait for bearish confirmation past 1.80559

CAD - Sell

CAD pairs rose for a bit right after the BOC rate hike last week, however prices began to go back down again, and I'm expecting a continuation of bearish trend for these pairs thanks to Oil plunging further down soon.

CADCHF - Wait for bearish confirmation past 0.75800

CADJPY - Sell up to near 84

EURCAD - Buy up to 1.5055

GBPCAD - Wait bullish confirmation then buy up to 1.70

NZDCAD - Wait for bullish confirmation then buy up to 0.865

USDCAD - Wait near 1.312

AUDCAD - Wait for breakout near 0.92836 then buy up to 0.93607

CHF - Buy

Considering how equities resumed its drop, since both CHF and JPY are safe haven assets, I'm expecting both currencies to get stronger the weaker global equities get.

CHFJPY - Wait bullish confirmation past 112.5 or bearish confirmation past 111.50

EURCHF - Wait for bearish confirmation past 1.134 then sell up to 1.125

GBPCHF - Wait for bearish confirmation past 1.28 then sell up to 1.26-1.265

NZDCHF - Wait bullish confirmation past 0.654 then buy up to 0.6629

USDCHF - Wait bearish confirmation past 0.99603 then sell up to near 0.99-0.99200

AUDCHF - Wait for bullish confirmation past 0.71187; or scalp and short rally

CADCHF - Wait for bearish confirmation past 0.75800

EUR - Sell

Since the Italian budget and Brexit issues have both not been fully resolved (hence, ECB decided to retain its current rate instead of matching USD with its rate hikes right away), and on top of that ECB is also planning to eventually remove its quantitative easing (QE), I'm positive that EUR pairs will continue to go bearish for some time.

EURGBP - Wait for bounce at 0.89 then sell

EURJPY - Wait for bullish confirmation past 128 then buy up to 129

EURNZD - Wait sell confirmation past 1.74 then sell up to near 1.725

EURUSD - Wait for bounce from 1.13 and bullish confirmation before buying

EURAUD - Wait for bearish confirmation past 1.60

EURCAD - Buy up to 1.5055

EURCHF - Wait for bearish confirmation past 1.134 then sell up to 1.125

GBP - Wait

The Brexit negotiation is still on going, and there had been rumors that majority in UK wants PM May replaced, so I'm expecting this pair if not to resume its bearish momentum last week, at least go ranging.

GBPJPY - Sell up to near 140 - 140.2

GBPNZD - Wait more bearish confirmation past 1.95 then sell up to 1.90-1.92

GBPUSD - Sell up to 1.266 - 1.27

EURGBP - Wait for bounce at 0.89 then sell

GBPAUD - Wait for bearish confirmation past 1.80559

GBPCAD - Wait bullish confirmation then buy up to 1.70

GBPCHF - Wait for bearish confirmation past 1.28 then sell up to 1.26-1.265

NZD - Buy

NZD Trade Balance news last week had been disappointing, however as mentioned in my previous post, NZD economy is holding up on its own very well. Like AUD, NZD is also already oversold. Expecting a bounce up and further strengthening of NZD soon (if not this week, then in the succeeding weeks).

NZDJPY - Wait for bullish confirmation before buying up to 74-74.5

NZDUSD - Wait for bullish confirmation then buy up to 0.66

AUDNZD - Wait near 1.08948, then sell if it starts to bounce down and consolidates

EURNZD - Wait sell confirmation past 1.74 then sell up to near 1.725

GBPNZD - Wait more bearish confirmation past 1.95 then sell up to 1.90-1.92

NZDCAD - Wait for bullish confirmation then buy up to 0.865

NZDCHF - Wait bullish confirmation past 0.654 then buy up to 0.6629

JPY - Buy

Since like CHF, JPY is a safe haven asset, expecting this currency to strengthen further the weaker global equities get. S&P500 isn't showing signs of rally by today (Monday). If that sentiment continues, I'll watch for opportunities to trade JPY strength in the short-term at least but be extra careful to avoid getting whipsawed as soon as S&P 500 starts recovering.

USDJPY - Wait near 112, possible sell again up to 110 - 110.5

AUDJPY - Wait for bullish confirmation past 79.559

CADJPY - Sell up to near 84

CHFJPY - Wait bullish confirmation past 112.5 or bearish confirmation past 111.50

EURJPY - Wait for bullish confirmation past 128 then buy up to 129

GBPJPY - Sell up to near 140 - 140.2

NZDJPY - Wait for bullish confirmation before buying up to 74-74.5

USD - Wait

The dollar index began to consolidate by the latter part of the week last week. Though in the long run USD is more likely to get stronger, in the short run need to take into consideration the effects of trade tensions. Also best to wait for the NFP and Unemployment news on Friday.

AUDUSD - Scalp and sell (but be careful), or wait bullish confirmation past 0.71

EURUSD - Wait for bounce from 1.13 and bullish confirmation before buying

GBPUSD - Sell up to 1.266 - 1.27

NZDUSD - Wait for bullish confirmation then buy up to 0.66

USDCAD - Wait near 1.312

USDCHF - Wait bearish confirmation past 0.99603 then sell up to near 0.99-0.99200

USDJPY - Wait near 112, possible sell again up to 110 - 110.5

XAUUSD - Possible bounce down to 1220 from 1245

XAGUSD - Wait near 14.5

XTIUSD - Wait for bearish confirmation and sell again up to near 60

USDZAR - Wait near 14.5, possible sell up to 14.4

USDMXN - Wait for bearish confirmation past 19.28163 then sell up to 19

Feature image by Patrick P. of Unsplash