Weekly Review and Outlook 4th September 2017

Mark NugentSept 2017, Trading Plan

Weekly Forex Review – Week Commencing 28th August 2017

Last week saw lots of North Korean-inspired fun and games. Tuesday saw the firing of a missile opver the Japanese island of Hukkaido and then over the weekend we saw the testing of an H-Bomb. That’s new. Not your usual fission reaction involving plutonium etc. This is fusion – hydrogen + hydrogen = helium and a lot of energy. The process that occurs in the sun.

We also have the running saga of Hurricane, now tropical depression Harvey and it’s impact on people and oil production and refining.

We then end the week with both sides of the Brexit debate being unpleasant. The Euro side’s Michel Barnier tells us he is going to educate us on what Brexit means. I love it when people tell me they are going to educate me. And our own Brexit Bulldog David Davis says they are being silly.

So, in terms of trades, what the North Koreans give, the North Koreans take away. The risk-off sentiment due to the missile over Hukkaido allows me to enter Japan225 and USDJPY long on Wednesday. The H-Bomb test over the weekend causes a move down on the Sunday night open. The USDJPY opens just below my breakeven stop so I am out for a small loss of 0.08%. . The Japan225 opens at 1am BST and gaps down and moves down, taking me out at breakeven before I get out of bed.

Weekly Forex Outlook – Week Commencing 4th September 2017

Major Events

Note – the US is having a Bank Holiday today, Monday.

AUD – Cash Rate and Statement early Tuesday; GDP early Wednesday.

CAD – Overnight Rate and Statement on Wednesday.

GBP – Construction PMI on Monday (51.1 vs 52.1, a miss); Services PMI on Tuesday (Manufacturing PMI came out last Friday and beat expectations (56.9 vs 55.0).

EUR – Rate and Press Conference Thursday

JPY – Final GDP early Friday.

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Here is your Weekly Review and Outlook video.

I discuss last week’s trades at 3:15 and this week’s trading plan at 8:25.

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The themes for this week’s trading can be found HERE.

Profiles are HERE (Trades) and HERE (Dashboard).

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