Forex Trading Opportunities for the Week Ahead 10 May 2015

Forex Trading Opportunities for the Week Ahead 10 May 2015
Note that this is my current view, but if market conditions change my view can change too. Generally I will trade in alignment with what I have noted here, though I will wait for a set-up before I enter. I base my view on technical and fundamental information. This is my beliefs and you are welcome to have opposite ones. Having a plan is more important than the actual direction for me. 

• Long GBP/USD. Trend  – MT is a bull normal. The weekly reversal candle did not hold last week after the market was surprised by the election result with the polls proving way off target. Beware of a potential double to, but for now GBP is a buy.
• Waiting USD/JPY. – MT is sideways normal. Range is getting very tight. Stalk the breakout.
• Long AUD/USD Trend –  MT is bull normal. Rate cut last week but expectations for further cuts were lowered. Market type is technically bullish but looking a bit messy to my eyes.
• Long EUR/USD. Trend – MT is bull normal. Dips like this is bull markets represent buying opportunities. Low conviction but trade what is in-front of you. We also have a wide weekly spinning top so if next week is a sell off we have a shorting opportunity.
• Short NZD/USD. Trend– MT is sideways normal. A daily close below the low of last week signals a bear market. NZD suffering from increased expectation of a rate cut.
• Short USD/CHF. Trend – MT is bear normal. Almost have a weekly reversal pattern. Be careful going short here.
• Waiting EUR/CHF.  – MT is sideways normal. Wait and see
• Waiting USD/CAD. – MT is bear normal. Turning sideways so wait.
• Waiting EUR/GBP.   – MT is sideways volatile. Wait for now.
• Waiting  AUD/JPY. MT is sideways volatile. Turing sideways volatile, but suspect the opportunity is to the downside.
• Waiting NZD/JPY  – MT is sideways normal. Almost a reversal off the edge but not quite… weekly charts are sideways not helping us.
• Long GBP/JPY.  – MT is bull normal. Bullish after the election so keep buying. At the top of the range now though so be careful.
• Long EUR/JPY. Trend –  MT is bull normal. Bull market still in play.
• Short GBP/NZD. Reversal – MT is just strong bull. In my mind this looks a bit risky but we are getting a sell signal off the edge of a week range. A short for the courageous.
• Long EUR/NZD. Trend- MT is strong bull. Could be a decent buy the dip opportunity.
• Long AUD/NZD. Trend– MT is strong bull. Look for buy the dip opportunities. Divergence in monetary policy here (at least till now!).
• Short EUR/AUD. Reversal – MT is normal bull. We actually have a shorting opportunity here with a double top and bearish engulfing candle. Only thing I don’t like about it is that the resistance has not been take out so we may just see one more pop higher.
• Waiting GBP/AUD. – MT is sideways normal. The short last week was a good like trade opportunity pre-election. Post election the range has held.
• Waiting AUD/CAD. –  MT is sideways normal. Wait.
• Waiting  GBP/CAD. – MT is Sideways normal. One more up day turns this into a bull.
• Short EURCAD Reversal  -MT is bear volatile. Similar to the EURAUD mentioned above but resistance was taken out. This would be a higher conviction short.