Note

Weekly Trade Results: EUR/USD, EUR/CAD, GBP/USD

· Reading 2,676

The EUR/USD price path last week began 1.1287 to 1.1183 then a bounce with NFP assistance to 1.1302 – 1.1223. The original weekly entrry was 1.1294 to 1.1321 and fairly wide for last trading week as well the price path was a  trap.

EUR/USD performed the nasty feat of round 2 shorts and not normally seen from EUR as it pertains to weekly trades only. GBP yes but rarely EUR as EUR traditionally over the past 28 weeks since January traded a really great and highly predictable price path. Same status for EUR/JPY and EUR/AUD. Horrible for EUR/NZD.

If GBP/USD is susceptible to round 2 shorts for certain weeks then it automatically applies to its perfect opposite, USD/CAD and this has been the case over the past 28 weeks.

Wide range pairs GBP/NZD and EUR/NZD traded all over the place.

A side bar, we’ve just completed a deep analytical quantification to weekly trades since January per 18 currency pairs.

While a computer provides assistance and analytical views to trades, targets, entries and profits, it sometimes fails to capture weeks with certain nuances to trades. A computer for example failed to see last week’s EUR/USD break point at 1.1223 and the trade if a break occurred or not. Not sure for computer analysis to multiple longs and shorts per currency pair as the results to overall analysis is still hot off the presses.

A computer is as good as it is told what and how to analyze. It assumes the operator is informed to analyze perfect and correct prices and this is where deception lies, especially to performance and results.

 As weekly and long term trades are factored by pen, paper and calculator, the best and true analytical approach is to factor weekly trade results by pen and paper as we’ve done for years. And this despite good results from the computer.

EUR/USD target at 1.1158 failed to achieve destination.

Weekly Trades and Results as posted last Monday

EURCAD

Short 1.5398 and 1.5416 to target 1.5231

Highs 1.5428, Lows 1.5208

target achieved

Trade Ran +185 Pips from 1.5416

2nd Leg

Long 1.5231 to target 1.5305.

Lows 1.5198, Highs 1.5355

target Achieved

trade Ran +74 pips

2 trades +259 Pips

GBPUSD

Long 1.2293 and 1.2278 to target 1.2483.

Lows 1.2251, Highs 1.2490

Target achieved

Trade ran +212 pips from 1.2278

EUR/USD

Short 1.1294 and 1.1321 to target 1.1158.

Highs 1.1287 and 1.1302, Lows 1.1185

Trade Runs +97

Overall close expected 1.1160 to 1.1187.

3 trades, +568 pips.

 

Brian Twomey

https://www.fxstreet.com/analy...

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

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