The Canadian dollar could be front and center of forex price action this week, with the BOC decision and the OPEC meeting coming up! Here are the setups and inflection points I’m watching.
Significant Forex Levels to Watch
|
AUD/USD |
USD/CAD |
NZD/USD |
|
| Week Open (WO) | 0.7463 | 1.3517 | 0.6927 |
| Previous Week High (PWH) | 0.7470 | 1.3722 | 0.6951 |
| Previous Week Low (PWL) | 0.7385 | 1.3511 | 0.6851 |
| Top Weekly ATR (tWATR) | 0.7526 | 1.3610 | 0.6989 |
| Bottom Weekly ATR (bWATR) | 0.7400 | 1.3424 | 0.6865 |
| Other significant levels | 0.7400, 0.7500 | 1.3500, 1.3450 | 0.6900, 0.6800 |
In case you’re wondering what ATRs are all about and how I computed those figures, make sure you check out my entry explaining my trading strategies. Here are some of the comdoll forex setups I’m looking at this week:
AUD/USD: 4-hour
USD/CAD: Daily
NZD/USD: 1-hour
If you’re planning on trading the news for the comdolls, better mark these events on your economic calendars as well:
See also: Q1 2017 Trading Performance Review
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.
