FX Trading Ideas for the Week | Apr 22 - Apr 26, 2019

By Aiza Belle | 22 April 2019 | | Share:

It's so hot, it doesn't feel like spring anymore-- it feels like summer is here early!

Someone told me that I "work" too much and I should treat myself to a vacation. Well I actually do every weekend, but since I'm not into traveling (especially with this heat, no thank you!



I have #vampiregoals lol plus I don't like getting tanned and getting freckles, they don't suit my Asian skin), spending time with my loved ones at home (staycation) and watching awesome anime with my S.O. is my idea of a fun vacation. ^_^

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 - Sell 

Despite good macroeconomic news from China in the past few weeks, the ambiguity regarding having a proper US-China trade deal seems to dampen the bullish momentum both in Chinese Yen and AUD. Since AUD pairs have reached important resistance levels lately, expecting most of them to continue consolidating this week (if not go ranging/flat).

AUDCAD - Wait for bearish confirmation past 0.95 then sell with target profit near 0.94 - 0.944
AUDCHF - Wait for bearish confirmation past 0.723 then sell with target profit near 0.718
AUDJPY - Wait near 79.87
AUDNZD - Wait for bearish confirmation past 1.067 then sell with target profit near 1.06135
AUDUSD - Wait near 0.714
EURAUD - Wait near 1.5765
GBPAUD - Wait for bullish confirmation past 1.825 then buy with target profit near 1.845

CAD - Wait

With oil recently reaching new highs, expecting CAD to follow suit, but need to be careful for any sudden reversal. In my opinion, it's already "too late" to ride the bull now, so it's best to wait and enter after another consolidation when oil starts going to 70 next. Not to mention there's a BOC pressing conference coming up soon.

CADCHF - Wait near 0.76
CADJPY - Wait near 83.8
EURCAD - Wait near 1.50
GBPCAD - Wait near 1.733
NZDCAD - Wait for possible bounce @0.89 then buy with target profit @0.90347 - 0.905
USDCAD - Sell with target profit near 1.33
AUDCAD - Wait for bearish confirmation past 0.95 then sell with target profit near 0.94 - 0.944

CHF - Wait

With S&P 500 still tiptoeing and barely touching 3000 level, not to mention a bunch of disasters happening lately (i.e. Notre Dame in France, Sri Lanka attack), it seems like the market in general will continue with its risk-off stance. Waiting for both S&P 500 and USD index to drop, before I pounce. But until then, I'll just remain waiting in the sidelines.

CHFJPY - Wait for bullish confirmation past 110.5 then buy with target profit near 111.475
EURCHF - Wait near 1.14245
GBPCHF - Wait near 1.32
NZDCHF - Wait near 0.67655
USDCHF - Wait for bearish confirmation past 1.013 then sell with target profit near 1.0065
AUDCHF - Wait for bearish confirmation past 0.723 then sell with target profit near 0.718
CADCHF - Wait near 0.76

EUR - Wait

Ranges are narrowing and EUR pairs continue to consolidate. Best to wait for a confirmed breakout before opening positions. Keeping my eye on EURUSD in particular this week.

EURGBP - Wait near 0.86745
EURJPY - Wait near 126
EURNZD - Wait near 1.6857
EURUSD - Wait for bullish confirmation past 1.12635 then buy with target profit near 1.132
EURAUD - Wait near 1.5765
EURCAD - Wait near 1.50
EURCHF - Wait near 1.14245

GBP - Sell 

Almost same reasoning last week, either GBP pairs will continue going in narrower ranges this week or breakout on the downside especially now that the bullish momentum from delayed Brexit had slowed down (if not settled down). Will wait for further confirmation.

GBPJPY - Wait for bearish confirmation past 146.258 then sell with target profit @145.550
GBPNZD - Wait for bearish confirmation past 1.928 then sell with target profit near 1.908
GBPUSD - Wait near 1.308
EURGBP - Wait near 0.8635
GBPAUD - Wait for bullish confirmation past 1.8365 then buy with target profit @1.85
GBPCAD - Wait near 1.755
GBPCHF - Wait for bearish confirmation past 1.31285 then sell with target profit near 1.3075

NZD - Buy

Same reasoning as last week, NZD continues to be underrated because its being influenced by AUD's weakness. Still bullish on Kiwi overall but need to be careful not to get whipsawed especially with AUD's CPI news coming out soon.

NZDJPY - Wait near 74.65
NZDUSD - Wait near 0.6675
AUDNZD - Wait for bearish confirmation past 1.067 then sell with target profit near 1.06135
EURNZD - Wait near 1.6857
GBPNZD - Wait for bearish confirmation past 1.94 then sell with target profit near 1.923
NZDCAD - Wait for possible bounce @0.89 then buy with target profit @0.90347 - 0.905
NZDCHF - Wait near 0.67655

JPY - Wait

Still similar logic as last week's idea, best to wait and monitor both USD index and S&P 500 closely. If you have VPS, keep those alerts on. If none, you can use legit fx apps to setup alerts on mobile like the ones from Dukascopy or FXPro for instance (not sponsored lol).

USDJPY - Wait for bearish confirmation past 111.82 then sell with target profit near 111.15
AUDJPY - Wait near 79.87
CADJPY - Wait near 83.8
CHFJPY - Wait for bullish confirmation past 110.5 then buy with target profit near 111.475
EURJPY - Wait near 126
GBPJPY - Wait near 145.3
NZDJPY - Wait near 74.65

USD - Wait

Same reasoning as CHF and JPY above. Most likely bearish real soon, but it's best to wait for an actual confirmation instead of simply relying to chart patterns and price action. Stay safe.

AUDUSD - Wait near 0.714
EURUSD - Wait for bullish confirmation past 1.12635 then buy with target profit near 1.132
GBPUSD - Wait near 1.299
NZDUSD - Wait near 0.6675
USDCAD - Sell with target profit near 1.33
USDCHF - Wait for bearish confirmation past 1.013 then sell with target profit near 1.0065
USDJPY - Wait for bearish confirmation past 111.82 then sell with target profit near 111.15
XAUUSD - Wait near 1275
XAGUSD - Wait for bullish confirmation past 15.1 then sell with target profit @15.35
XTIUSD - Wait for bullish continuation past 66 then buy with target profit @67.65
USDZAR - Wait near 14.17
USDMXN - Wait for bullish confirmation past 18.918 then buy with target profit near 19.19

Feature image by Virginia L. of Unsplash