FX Trading Ideas for the Week | Nov 5-9, 2018

By Aiza Belle | 05 November 2018 | | Share:

Making the most of the remaining weeks before the coming holidays.

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

AUD - Buy

Aussie pairs began bouncing up last week, expecting a continuation of this bullish trend. However I'm just staying in the sidelines until the RBA statement later at 3:30 A.M. GMT.

AUDCAD - Wait for bullish confirmation past 0.94500 then buy up to 0.959

AUDCHF - Wait for bullish confirmation past 0.727 then buy up to 0.74 - 0.75

AUDJPY - Wait for bullish confirmation past 82.500

AUDNZD - Wait for bounce/break from 1.076

AUDUSD - Scalp at own risk below 0.74 or wait for bullish confirmation past 0.74 before buying

EURAUD - Wait for bearish continuation past 1.56725

GBPAUD - Possible to continue ranging between 0.79-0.83

CAD - Wait

Still expecting a continuation of bearish trend for these pairs if oil continues to go down. However, a rally is also possible this week and most likely CAD pairs will go ranging. Either wait for now, or scalp and sell when a good opportunity arises.

CADCHF - Wait for bearish confirmation past 0.75800 or bullish confirmation past 0.77

CADJPY - Confirm trend first with oil and S&P

EURCAD - Wait near 1.50

GBPCAD - Might go ranging between 1.66 - 1.70, or breakout past 1.71

NZDCAD - Wait near 0.875

USDCAD - Wait near 1.312

AUDCAD - Wait for bullish confirmation past 0.94500 then buy up to 0.959

CHF - Sell (short-term)

Equities enjoyed a bounce up at the beginning of this week, though I'm not sure how long this will be --either it's just a temporary rally or a legit recovery for good. Since CHF is a safe haven asset like JPY, it reacts to equities and starts going bearish the moment equities show signs of recovery. Depending on the price action, best to wait or have a cautious bearish bias for CHF.

CHFJPY - Might go ranging between 112-114; Else wait for bearish confirmation past 112

EURCHF - Wait near 1.14375

GBPCHF - Wait for bullish confirmation past 1.30 and buy up to 1.34

NZDCHF - Wait to break 0.67148 then continue buying, else sell at consolidation

USDCHF - Wait near 1.00

AUDCHF - Wait for bullish confirmation past 0.727 then buy up to 0.74 - 0.75

CADCHF - Wait for bearish confirmation past 0.75800 or bullish confirmation past 0.77

EUR - Sell

Might experience a rally for EUR pairs this week so need to wait for good entry. Overall still a strong bearish bias because of the issue regarding Italian budget and other current geopolitical risks in the Euro zone.

EURGBP - Wait for bearish confirmation past 0.872 or bullish confirmation past 0.878

EURJPY - Wait for bullish confirmation past 129 then buy up to 130-130.5

EURNZD - Wait for bounce/break at 1.70

EURUSD - Wait near 1.14

EURAUD - Wait for bearish continuation past 1.56725

EURCAD - Wait near 1.50

EURCHF - Wait near 1.14375

GBP - Buy

Assuming the rumors regarding the Brexit deal being almost done and accepted, unlike the ECB, BOE is more likely to go hawkish sooner.

GBPJPY - Wait near 148 / Scalp and buy up to 149

GBPNZD - Wait for bullish confirmation past 1.965 before buying up to 2.00

GBPUSD - Wait near 1.30

EURGBP - Wait for bearish confirmation past 0.872 or bullish confirmation past 0.878

GBPAUD - Possible to continue ranging between 1.79-1.83

GBPCAD - Might go ranging between 1.66 - 1.70, or breakout past 1.71

GBPCHF - Wait for bullish confirmation past 1.30 and buy up to 1.34

NZD - Buy

NZD pairs are approaching key resistance levels this week, so consolidation is highly possible. Overall I have a bullish bias on NZD because of strong economic data last time, however must wait for the employment and inflation news onWednesday, and RBNZ statement this Thursday before entering trades to avoid getting whipsawed.

NZDJPY - Wait for bullish confirmation past 76 before buying up to 78

NZDUSD - Wait for bullish confirmation past 0.67 then buy up to 0.68

AUDNZD - Wait for bounce/break from 1.076

EURNZD - Wait for bounce/break at 1.70

GBPNZD - Wait for bullish confirmation past 1.965 before buying up to 2.00

NZDCAD - Wait near 0.875

NZDCHF - Wait to break 0.67148 then continue buying, else sell at consolidation

JPY - Sell (short-term)

Like CHF above, JPY is affected by the recent bounce in stocks. Either scalp and ride this trend, or just wait for further confirmation.

USDJPY - Wait near 113 / Wait for bullish confirmation past 113.4 then scalp up to 114

AUDJPY - Wait for bullish confirmation past 82.500

CADJPY - Confirm trend first with oil and S&P

CHFJPY - Might go ranging between 112-114; Else wait for bearish confirmation past 112

EURJPY - Wait for bullish confirmation past 129 then buy up to 130-130.5

GBPJPY - Wait near 148 / Scalp and buy up to 149

NZDJPY - Wait for bullish confirmation past 76 before buying up to 78

USD - Wait

Though USD continues to go stronger, consolidation is possible especially with DXY near the 2018 high as seen in the weekly chart. US midterm elections is also happening this week which might have an impact on its pairs. Best to wait until then.

AUDUSD - Scalp at own risk below 0.74 or wait for bullish confirmation past 0.74 before buying

EURUSD - Wait near 1.14

GBPUSD - Wait near 1.30

NZDUSD - Wait for bullish confirmation past 0.67 then buy up to 0.68

USDCAD - Wait near 1.312

USDCHF - Wait near 1.00

USDJPY - Wait near 113 / Wait for bullish confirmation past 113.4 then scalp up to 114

XAUUSD - Wait for bullish confirmation past 1245 before buying up to 1270

XAGUSD - Wait near 14.5

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

USDZAR - Wait near 14.15 for bounce up or break down

USDMXN - Wait for bearish confirmation past 19.8 then sell up to 19.4

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Feature post image by W. Bolding of Unsplash.