Jul 29 – Market Analysis

This analysis is being done at 1pm UK time.

This week sees a lot of news and announcements.  NFP on Friday.  Central bank announcements from ECB and BOE on Thu, US Advance GDP figures and some other major ones.

European and US equity markets are either holding up or falling slightly.  The Nikkei is decreasing quite rapidly over the last 3 days.

CHF has been gaining in strength at the expense of GBP and USD.  JPY is also shifting up the ranks a lot, now with 3 points.  JPY has been rallying the past three days.  EUR and CHF are now the strongest, GBP and USD sitting neutrally, with JPY just behind and AUD now the solitary weakest currency.

There are only two pairs with S1/S2 setups that are aligned with strength/weakness combinations – these are EURJPY and CHFJPY.  Both of these pairs have been retracing over the past three days.  If we now get bullish PA then we may have a trade.  Bear in mind that trades this week would be rather risky because of the large quantity of news items.

There are several pairs where the momentum may shift – these are EURAUD, EURUSD, USDCHF and AUDCHF – notably always in favour of the strong currencies (EUR and CHF).

No orders to enter into the market at this point in time.


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