Forex Trading Opportunities for the Week Ahead 31 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. 

• Short GBP/USD. Reversal – MT is a bull volatile. But the weekly selling patterns dominate. Prefer shorts.
• Long USD/JPY. Trend – MT is strong bull. Last weeks buy signals have played out. Keep looking long.
• Short AUD/USD Trend–  MT is strong bear. As suggested we have had further selling in the AUD and the market type has now turned bearish. RBA meeting this week.
• Short EUR/USD. Trend – MT is bull volatile. Three bullish days to end the week have created a small bullish pin candle on the weekly chart. I prefer shorts, but with caution and if you are short already it may be safer to lighten the position/ tighten stops.
• Short NZD/USD. Trend– MT is bear normal. Continues with our march lower making multi year lows . Look short but be wary of a reversal off major support at 0.71.
• Long USD/CHF. Reversal – MT is bear volatile. One more strong bullish day will change the market type to bull. Though we are long off the weekly chart, trade with caution.
• Waiting EUR/CHF.  – MT is bull normal. Marching lower but trade with caution as we could turn back sideways very quickly.
• Long USD/CAD. Trend  – MT is bull normal. Our bullish trade from last week came good, but we have an interesting set of bearish candles here. Tighten stops on part of the position and wait for confirmation.
• Waiting EUR/GBP.   – MT is sideways volatile. Sideways volatile is still holding. Prefer to wait.
• Waiting  AUD/JPY. -MT is sideways normal. Wait.
• Short  NZD/JPY. Trend – MT is bear normal. Had some follow though on last weeks short, so remain short.
• Long GBP/JPY. Trend – MT is bull normal. Keeps trucking on this trade, but sentiment has weakened. Still prefer buying.
• Waiting EUR/JPY. –  MT is sideways normal. Wait for now
• Long GBP/NZD. Trend – MT is bull normal. Our reversal pattern form last week has almost failed. If price move above the high I would be out. Meanwhile longs could be the best bet but with extreme caution considering we are at monthly resistance.
• Long EUR/NZD. Trend- MT is bull normal. My *gut* did not work out and this pair posted a very bullish close giving us a bullish outside week on the weekly charts.
• Waiting AUD/NZD. – MT is bull volatile. Wait for now.
• Long EUR/AUD. – MT is bull normal. Longs back in play.
• Long GBP/AUD. – MT is bull normal. Buy but be very wary of the current resistance level.
• Waiting AUD/CAD. –  MT is sideways volatile. Wait.
• Long  GBP/CAD. Trend – MT is bull normal. Look to buy.
• Waiting EUR/CAD Reversal  -MT is sideways normal. Wait for now.