Week Aug 15-Aug 20 Market Analysis and what to look out for

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 15-20 Aug 2016.

This week few events to look for on #forexcalendar  15 Aug -20 Aug

1. #AUD Aug  16 Tue – Australia Monetary policy meeting – #audusd  is currently near to strong resistance, likewise, #euraud  at strong support. I do not see any change in policy, but my guess that market might use this opportunity to temporarily short #AUD

Reminder that we had a short into #AUDJPY  at 78.30. Now price is trading at 77.40. I am planning for another reentry. The strength of this trade is the small stop loss in view of the huge target profit.

2. #NZD  Aug 16 and Aug 17 – two pieces of data to look out for. Aug 16 GDT Price Index and also Aug 16 Employment change. Market could be playing ahead of a possible rate cut, thus explaining why #nzd  sees some weakness. We already have a short in #nzdusd  right to the top 0.7220-30. Now price is trading 0.7176. We are at profit of about 45pips. I am thinking of shorting more into #nzdjpy  or #nzdcad

3. #USD  Aug 18 #FOMC  meeting minutes – I don’t expect any big change, and don’t expect this meeting minutes to affect anything. But I suspected that dollar index has found a support and is reversing up temporarily. That’s why I have opened a #eurusd  short.

4. #WTI  (Oil) and #cad – I’ve mentioned we will see support of #wti  at 39.30-50. Indeed price bounce up from the price that I’ve said. Yesterday included another chart here on #WTI https://plus.google.com/+Terraseedsforexstrategy/posts/cDbEs6stpws leading me to believe that there is another leg up. I will be planning for buy positions.

This is also the reason why there is a short into #eurcad.

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.