FX Trading Ideas for the Week | Feb 25 - Mar 1, 2019

By Aiza Belle | 26 February 2019 | | Share:

It's my birthday week this week! I find it even harder to focus in trading now than last week. Even if last week's results went well, I'm not very confident with my trading abilities this week because I'm a little distracted so I'll do my best to trade with more caution.




A bunch of exciting things happened lately-- I'll just put them here so I have something to look back to and remember when they happened, but these are not really trading related and may not be relevant to you guys-- unless you're into generating other forms of passive income while trading (hopefully I don't sound conceited or narcissist here lol), so you may skip waaaaayyy down ahead:P

• One of my Youtube channels (the latest one which I started uploading videos last month) blew up and surpassed the minimum threshold of 4000 hours and 1000 subscribers beginning last Friday. With the latest Adpocalypse 2 though, I'm not sure if it's a good time to request for Google Adsense but I'll try anyway one of these days :P

• My other Youtube channel (the gaming one) is still stuck at around half the required minimum (2.8k+ hours, 600+ subs huhu..) BUT a major blogger recently took notice of one of my videos so aside from being flattered I'm also a little pressured to upload more videos about that game as quickly as I can  + finalize setting up my new virtual fashion blog hopefully BEFORE he features me in his blog so his people will see more relevant content. Also psychologically prepping myself for the possible impending hate from other passionate gamers lol.

If you live near my area and you think we have the same audience, I'm open for collabs btw lol!

• The art blog which my S.O. and I created (but semi-abandoned because we just don't have enough time doing artsy stuff really, we're studying Python together now) surprisingly are still getting thousands of visits a month. I'm thinking of updating it and post my fashion designs there once I get Marvelous Designer 8 and also be comfortable using that and Blender.

• Sims 4 Strangerville is gonna be released any moment now! Since I haven't uploaded my Zombieland Saga LP in my gaming channel, I'll restart it and let my zombiefied anime waifus solve the mystery of Strangerville instead-- can't wait!

• The Occupation-- another game I've been so excited about was further delayed-- which honestly lowkey made me happy because aside from giving them opportunity to fix any game-breaking bugs in that game (highly likely in that type of game), gives me more time to catch up and edit more old videos-- will finally come out on Tuesday next week! AGGGGHHHHHHH!

Unless they decide to delay again, which is still alright :P

Ok, that's all. Back to trading now.

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

I. FX Trading Ideas for the Week

AUD - Wait

From being bullish, my sentiment on AUD has now changed to flat (if not bearish) especially after
China banned Australia's coal during the latter part last week. Add the housing crisis Australia is having right now (which its government tried to keep mum about-- and reminds me of Japan's Abenomics), and I'll most likely just ride any short-term/day trading opportunities and avoid swing trading Aussie pairs.

AUDCAD - Wait for bullish confirmation near 0.95 then buy with target profit @0.955
AUDCHF - Wait near 0.7155
AUDJPY - Scalp up to 80 or wait for confirmed bounce down from 80
AUDNZD - Wait near 1.04
AUDUSD - Wait near 0.717
EURAUD - Wait near 1.59
GBPAUD - Wait for confirmed bounce from 1.837 then buy with target profit @1.86

CAD - Sell (short-term)

Trump's tweet last Monday sent the oil down to its previous resistance-turned-current support and brought down CAD along with it. Expecting both oil and CAD pairs to consolidate further or at least go ranging this week.

One of the rare moments I agree with him.

CADCHF - Wait near 0.757
CADJPY - Wait for bearish confirmation past 83.5 then sell with target profit @82.8
EURCAD - Wait for bullish confirmation past 1.505 then buy with target profit @1.515
GBPCAD - Wait near 1.75
NZDCAD - Wait for confirmed bounce from 0.905 then buy with target profit @0.915-0.917
USDCAD - Wait near 1.325
AUDCAD - Wait for bullish confirmation near 0.95 then buy with target profit @0.955

CHF - Wait

Still same as last week's idea, still best to wait in the sidelines until further confirmation:

CHFJPY - Wait near 110.5
EURCHF - Wait for bullish continuation past 1.138 then buy with target profit @1.14-1.141
GBPCHF - Wait near 1.25
NZDCHF - Wait near 0.69
USDCHF - Wait near 1.00
AUDCHF - Wait near 0.7155
CADCHF - Wait near 0.757

EUR - Buy (short-term)

EUR overall is already oversold, might grab any short-term opportunity to buy EUR pairs. But if the risk-reward ratio isn't great, best to wait in the sidelines and at least wait for its CPI news later this week.

EURGBP - Wait near 0.86
EURJPY - Wait near 125.50
EURNZD - Wait near 1.65
EURUSD - Wait for bullish breakout near 1.1387 and buy with target profit @1.145
EURAUD - Wait near 1.59
EURCAD - Wait for bullish confirmation past 1.505 then buy with target profit @1.515
EURCHF - Wait for bullish continuation past 1.138 then buy with target profit @1.14-1.141

GBP - Wait

Though the bullish momentum for GBP pairs remain strong especially after it's rumored that a 2nd Brexit referendum is proposed by the labor party, in my opinion GBP is now currently overbought. Best to wait for further price action confirmation and just grab any short-term/day trading opportunities, if not wait for the initial Brexit deadline to pass first.

GBPJPY - Wait for bounce from 145 or bullish continuation past 147 then buy with target profit near 150
GBPNZD - Wait near 1.92
GBPUSD - Wait near 1.32
EURGBP - Wait near 0.86
GBPAUD - Wait for confirmed bounce from 1.837 then buy with target profit @1.86
GBPCAD - Wait near 1.75
GBPCHF - Wait near 1.25

NZD - Buy

Still bullish as last week though need to be cautious for any impact of US-China trading negotiations.

NZDJPY - Wait near 76
NZDUSD - Wait near 0.688
AUDNZD - Wait near 1.04
EURNZD - Wait near 1.65
GBPNZD - Wait near 1.92
NZDCAD - Wait for confirmed bounce from 0.905 then buy with target profit @0.915-0.917
NZDCHF - Wait near 0.69

JPY - Wait

Still on waiting mode like CHF above, and trade based on the other currencies' momentum.

USDJPY - Wait for bearish confirmation past 110.85 then sell with target profit @109.55-110
AUDJPY - Scalp up to 80 or wait for confirmed bounce down from 80
CADJPY - Wait for bearish confirmation past 83.5 then sell with target profit @82.8
CHFJPY - Wait near 110.5
EURJPY - Wait near 125.50
GBPJPY - Wait for bounce from 145 or bullish continuation past 147 then buy with target profit near 150
NZDJPY - Wait near 76

USD - Sell

Still bearish this week and same reasoning as last week's post.

AUDUSD - Wait near 0.717
EURUSD - Wait for bullish breakout near 1.1387 and buy with target profit @1.145
GBPUSD - Wait near 1.32
NZDUSD - Wait near 0.688
USDCAD - Wait near 1.325
USDCHF - Wait near 1.00
USDJPY - Wait for bearish confirmation past 110.85 then sell with target profit @109.55-110
XAUUSD - Wait for bullish continuation 1334 then buy with initial target profit @1350 (to be extended to 1365 depending on succeeding price action and momentum)
XAGUSD - Wait near 16
XTIUSD - Wait for bullish confirmation past 57.5 then buy with target profit @60
USDZAR - Wait for bearish continuation past 13.69 then sell with target profit @13.3
USDMXN - Wait near 19

Featured image by Raychan of Unsplash