Best Forex Strategies for August-December 2017

By August 6, 2017Uncategorized
  1. The US dollar is down 5-10% so far in 2017 versus AUD NZD CAD GBP EUR and JPY. Expect the USD bearish trend to continue.
  2. Week to weak the USD seems to be up one week and down the next; but when view on a month to month or quarter to quarter basis, the USD bearish trend is clear and consistent.
  3. The fundamentals are confusing, erratic and not helpful. Expect that to continue as well. I choose to ignore the fundamentals except…the news releases.
  4. The Tier 1 news releases (employment, CPI, retail, sales, GDP, monetary policy statement, and Central bank press conferences) are giving strong directional price moves; ignore the news itself and go with the direction of the price action right after the news is released.
  5. Technically, there is good follow through (20-30 pips minimum) each time the USD makes a new 2017 low for the year in any of the major pairs (AUDUSD, NZDUSD, GBPUSD, EURUSD, USDCAD or USDJPY).
  6. There is a lot of sideways price action intra-day; making buying support and selling resistance a solid strategy

Good luck and happy trading

Jimmy Young