Hello fellow traders,
This week I am turning my head to a minor currency pair. Not because the Majors don’t offer good opportunities, but mainly because I believe the minors can accumulate you bigger profits in the long run, due to the extensive trends without huge volatility and sudden shifts.
Today I am presenting you one of my Weekly Trading Plans based on the CAD/CHF. You can see the whole plan explained on Youtube. Just follow the link in the advertisement field.
Below I am sharing the target zones in numbers and a quick economic overview for this week:
I will be looking for Sell opportunities below the price of 0.7800.
First Target Zone: 0.7650 - 0.7600
Second Target Zone: 0.7430 - 0.7400
Long-term target: 0.7140 - 0.7100
Economic Overview:
Tuesday - May 15th
13:00 GMT (16:00 Bulgarian time)
CAD Existing Home Sales - The previous reading was 1.3% and the expected number is 1.4%. This is a Medium importance event and I don’t expect it to bring a huge change on the market.
Wednesday - May 16th
16:00 GMT (19:00 Bulgarian time)
CHF SNB’s Jordan Speaks at Volligeld Event in Zurich - We might witness some volatility throughout the market. Pay attention to the speech as it might give out hints regarding Switzerlands’ economy and projections.
Friday - May 18th
12:30 GMT (15:30 Bulgarian time)
CAD Retail Sales (MAR) - Expected reading is the same as previous reading. I don’t expect to see any sudden changes, thus it won’t affect the market strongly.
12:30 GMT (15:30 Bulgarian time)
CAD Consumer Price Index - Again the forecasted reading is the same as the previous. Unless a sudden change in the reading appears we should not fear any sudden movements. Nevertheless keep in mind both events.
I wish everyone a profitable week! :)
This week I am turning my head to a minor currency pair. Not because the Majors don’t offer good opportunities, but mainly because I believe the minors can accumulate you bigger profits in the long run, due to the extensive trends without huge volatility and sudden shifts.
Today I am presenting you one of my Weekly Trading Plans based on the CAD/CHF. You can see the whole plan explained on Youtube. Just follow the link in the advertisement field.
Below I am sharing the target zones in numbers and a quick economic overview for this week:
I will be looking for Sell opportunities below the price of 0.7800.
First Target Zone: 0.7650 - 0.7600
Second Target Zone: 0.7430 - 0.7400
Long-term target: 0.7140 - 0.7100
Economic Overview:
Tuesday - May 15th
13:00 GMT (16:00 Bulgarian time)
CAD Existing Home Sales - The previous reading was 1.3% and the expected number is 1.4%. This is a Medium importance event and I don’t expect it to bring a huge change on the market.
Wednesday - May 16th
16:00 GMT (19:00 Bulgarian time)
CHF SNB’s Jordan Speaks at Volligeld Event in Zurich - We might witness some volatility throughout the market. Pay attention to the speech as it might give out hints regarding Switzerlands’ economy and projections.
Friday - May 18th
12:30 GMT (15:30 Bulgarian time)
CAD Retail Sales (MAR) - Expected reading is the same as previous reading. I don’t expect to see any sudden changes, thus it won’t affect the market strongly.
12:30 GMT (15:30 Bulgarian time)
CAD Consumer Price Index - Again the forecasted reading is the same as the previous. Unless a sudden change in the reading appears we should not fear any sudden movements. Nevertheless keep in mind both events.
I wish everyone a profitable week! :)
