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Weekly Comprehensive Analysis
For The Period January 29th – February 3rd 2017

Previous week
US and UK GDP but the most significant event over the past week was the New Zealand CPI, which came over previous months and over expectations. Markets gave to response to the Washington London meeting. On the other hand, we can find that markets gave a bottom for the GBP and buyers started to long short trades.

Next Week:
          Despite the fact that we are focusing more on the political calendar more than the economic calendar, we don’t ignore it when it comes to the Federal Reserve Bank & Bank of Japan policy statement and interest rates decision.  Fed & BOJ releases are some of punch of news coming next week.  We have also Euro CPI and GDP, US & New Zealand unemployment rate and RBA monetary statement.
           So every day in the week we have very strong motivators for the market; moreover, don’t forget the UK government may give us a new shake for the market by any announcement about the BREXIT.

What I am going to do next week?
          First I had the trade of the NZD/CHF (short). Have a look at the chart.

NZD/CHF [weekly chart]
Kiwi has tested the 61.8 retracement many times forming wedge at the same time. Also there are strong indications on the NZD/JPY pair of reversal, but it depends on what will happe n the ext week.
NZD/JPY [weekly chart]
I am continuing to short NZD/CHF TP: 0.6750 SL: 0.7400, but if you didn’t initiate that trade yet it will be better to wait until the NZD unemployment numbers to decide whether to enter or wait for the next reversal sign.
Also I am interested in two other pair GBP/NZD long – leave it till the next week, and NZD/JPY short. We will discusse them in details next week.
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Wishing you successful trading J


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