Week of September 18 – 22, 2017

A COUPLE OF PROJECTIONS FOR THIS WEEK:

EURUSD:  We anticipate to see EURUSD continuing its downward trend from last week, building off of the anchor (high) back from September 8th.  EURUSD has since dropped about 3 days of ADR (250 pips) only to correct back to the 50 and 200 EMA last Friday.  Look for EURUSD to open the week in [Consolidation], re-test the previous high of the week (forming a head and shoulders pattern on the 4HR chart) and eventually continuing to trend short.  **This week there is the FOMC Projections and the Rate statement on Wednesday which will definitely cause market volatility so trade carefully.  Bias for the week:  SHORT

AUDUSD:  With the anchor (high) set on September 7th, the new trend short appeared to have begun with AUDUSD dropping a couple days of ADR last week, only to finish the week sitting around the 50 and 200 EMA's.  Look for the trend run "short" to continue by seeing AUDUSD open the week in [Consolidation], re-test the previous day high or the previous high of the week...then continuing pushing "short".  Also, the 4HR chart does show some nice Divergence that possibly is signaling that the trend run short has started.  Bias for the week:  SHORT

 
LAST WEEKS RESULTS:

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