Forex Trading Opportunities for the Week Ahead 28 June 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 bull normal. Last week we had the reversal day that was anticipated. This lead to a short-term sell-off but the bull market remains intact. There is some sentiment that the BOE may raise rates sooner than anticipated in the UK based on better than expected data. I expect we may see the market turn sideways for a while pending NFP on Thursday (Friday is a holiday).
• Long USD/JPY. Trend – MT is sideways normal. But on the weekly chart we have a small bullish engulfing candle. Go long but with caution.
• Waiting AUD/USD –  MT is sideways normal. We had china cut rates this weekend. While this is theory i AUD bullish, it is a sign that China is not in a good condition. It’s most recent challenge is a 19% fall in the stock market in 2 weeks and I’m these sorts of things can breed all sorts of issues. Instability is high. My preferred strategy is a wait for a break-out lower.
• Waiting  EUR/USD. – MT is sideways normal. We have had so many “brink of defaults” in Greece it is hard to tell what’s what. Basically Greece may miss a debt repayment this week to the IMF and it has called a referendum next Sunday for the Greek people on the EU’s terms. This is decidedly negative as the Greek PM will be campaigning for a “no” vote. We have a bearish engulfing on the weekly chart suggesting a short but we need to wait to see what happens on the open. Momentum should be to the downside for now.
• Short NZD/USD. Trend– MT is bear normal. Continue with our short strategy. Nothing really stopping us from continuing with this approach for now.
• Waiting USD/CHF. – MT is sideways normal. Last week quickly reversed the bear market back into a sideways market. I think we will see more money flow into CHF until the Greek crisis is over. Long-term my view is the CHF is very overvalued and when sentiment changes we could see is much much weaker.
• Waiting EUR/CHF.  – MT is sideways normal . Sideways market continues to play out. Stay Away
• Waiting USD/CAD. – MT is sideways normal. We had a long opportunity off the edge last week. In . MT remains sideways so I would wait for now.
• Waiting EUR/GBP.   – MT is sideways volatile. Sideways volatile continues to play out. I expect we will see this much lower, but the market type is a little tricky for me as we could see a reversal off 0.7050. We could also see a bear market break out. This will be interesting to watch.
• Waiting  AUD/JPY. – MT is sideways normal. Continue to wait.
• Short  NZD/JPY. Trend– MT is normal bear. Continue short.
• Long GBP/JPY. Trend – MT is normal bull. Had a minor double top last week but not worth a short as it was in mid-air and not off a key level. Keep looking long.
• Waiting EUR/JPY. –  MT is sideways normal. Wait.
• Long GBP/NZD. Trend – MT is normal bull. Continue to go long but with caution of a double top forming here.
• Waiting  EUR/NZD. – MT is bull normal. But we have had a bearish engulfing candle from off key weekly resistance and need to wait for the open regarding Greece. If anything I prefer shorts here.
• Short AUD/NZD. Reversal – MT is bull normal. But we had a reversal candle off key weekly support a a minor double top form suggesting a small short position could be worth taking here. Careful though as a sideways market type could easily form.
• Waiting EUR/AUD.  – MT is sideways normal. Wait.
• Long GBP/AUD. Trend – MT is bull normal. Continue to buy.
• Waiting AUD/CAD. –  MT is sideways volatile. Wait for now.
• Long GBP/CAD. Trend – MT is bull normal. We could easily see a sideways market form here or a sell off so trade with caution.
• Waiting EUR/CAD.  -MT is sideways normal. Wait.
• Short NZD/CAD. Trend– MT is normal bear. Continue short.
• Waiting CAD/JPY.  – MT is sideways normal. Wait but do prefer longs.
• Waiting CHF/JPY.  – MT is sideways normal. Wait but do prefer longs.