Forex prices move before or after key events and data. It is important to know what’s ahead in forex calendar 1-2 weeks later. I have listed some important dates for 8-12 Aug 2016.

This week few events to look for on #forexcalendar  8 Aug -12 Aug

1. RBNZ – expected to cut rate. I am seeing a slight weakness in #nzd  at the moment. Suspect that if #RBNZ  really cut within expectation, then #NZD  might rise instead of fall (like #AUD on  #RBA  cut)

Do not get yourself caught in the news spike

2. #WTI  bounce from $39.30 as said in webinar. Suspecting a mini rally from here. So will be planning in some trades. However a bullish trade is counter trend only, and is tricky because resistance coming up at $42.50 till $44.00

3. #eur seems weak with #eurusd  falling more than other #usd  crosses like#audusd  and #nzdusd. I am still thinking of a short in #eur with other strong pairs like #nzd  #aud and #cad. Trading #eurnzd  will be trading into #RBNZ  too.

Tips to get explosive monster pips forex trades

4. USD data on friday. During mid week, I will be looking at trading into the #usd pairs.

Timing is important to forex traders

5. #xagusd  is more bearish than #xauusd. We have shifted SL of our #xauusd long at 1350 to 1356, thus during #nfp  spike down, I ended with a 30 ticks loss (as I had my entry at 1359 and 1356). Now #xauusd  is temporary bearish.

Protect XAUUSD by shifting SL

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