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Review Summary here
Happy Hump Day Everyone! Ok, so we are back for some more pips today, our forecast for yesterday was spot on with all 4 pairs that we forecasted. Let’s get started by reviewing our economic calendar HERE, we can see that we have a couple of big news events coming up from USA and Japan today, let’s see if we can’t figure out if they are going to come in on target, above target, or below.
Let’s review our chart for USDX HERE, what we see is that USDX turned exactly where we predicted it to turn yesterday, August 2nd, 2016. Based on this we believe that the news from USA today will beat expectations and create a bullish move on USDX and other correlated USD pairs (hint, EUR/USD should drop). Let’s review EUR/USD, we see that it as well turned exactly where we predicted yesterday and is now set to drop which is aligned with USDX forecast, so we are bearish on EUR/USD.
Finally, let’s review CAD/JPY and EUR/NZD since we had a forecast on both of these yesterday. We see that EUR/NZD didn’t quite make it down to our predicted LH (lower high) but it still gave us around 40 pips in profit yesterday on its move up and down and we are bullish on it as of last night. Finally, CAD/JPY, it came down and tested an old support and made an “exact turn”, it is so clean that it indicates a fabricated test with a strong bullish move possible.
Happy trading, trade smart, trade another day
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