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Month: September 2016
A pretty decent week given the relatively small ranges the forex markets have traded in. We have manged to get through some Fed jaw-boning and come out the other side with still very little clarity as to where rates are going. Dean has had success on the USDCAD and the AUDUSD.
It feels like we could have copy and pasted yesterday’s report into this one. The markets have been anaemic and only 2 of the pairs we follow have traded near their average daily range. A lack of significant news flow, other than OPEC, has kept most of the currencies in tight ranges.
Dean’s preferred FX trades were the AUDUSD and the USDCAD from yesterday and a pretty reasonable day it was. Dean favoured the Aussie because of the OPEC meeting but those that took the trade on the Loonie would have been handsomely rewarded.
The Forex Markets have been very tame today and we have seen extremely small ranges among most of the FX pairs we follow. Very little news out today with only the US Durable Goods Orders of any significance and Janet Yellen testifying before the House.
Dean describes his weekly FX ranges and how doing the preparation has allowed him to look at price action and make trading decisions.
Dean goes back to his ranges that he established on Sunday. There is some interesting price action in a number of the Forex Markets that are catching his eye. Last week Dean nailed the ranges and let’s hope he can do it again.
Hopefully, you managed to catch Dean’s Weekly Forex Prep Video yesterday. If not, then click here and see the levels he is watching for the week. A bit of a slow start this morning and the FX markets appear to start the week off in a measured fashion.
After what has been a volatile two weeks which has left the market recovering from a bout of anxiety, we hope that financial markets will finally find a dose of “normality” next week. That being said, it is hard to define “normal” these days. The Fed meeting was certainly the highlight of the week
A great week all round for Dean and highlights the importance of doing a little work before the week starts. Forex Trading is as much about planning your trades as executing them. “Fail to plan … plan to fail” as the old saying goes.