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SOFX Weekly Preview 22-26 January

Good Afternoon Traders exciting week ahead for all at SOFX as we host our first ever Trading apprenticeship on Wednesday, this is going to be good! WE would like to thank you all for your support as we sold this out in just 9 days. If you did not get a place don’t be disappointed because we have already released a date for February, 21/2/2018 put it in your diary and get your place secured!

Lets take a look at the week ahead on the Forex market.

USD (DXY)
Dollar index continued its Bearish run when printing new 3 year lows, It looks to be finding some sort of Support around the 90.00 level. With some important Fundamentals being released in the week ahead regarding the USD I would recommend staying clear of USD pairs until the dollar can find some Strength or we break the attempted Support.


I will be treading careful with what Pairs I Trade this coming week but below is One Trade set up I particularly like the look off;
GBP/NZD;
I have highlighted the reasons I like this Trade on the Image below but I will write them out so you can understand, We have this Ascending  Trend line holding from August 2017 that we have respected 3 times.
We have had a wedge forming since Mid December and we can see the Breakout on this Daily chart.
The red highlighted region is Resistance turning support which helps with continuation of the Bullish trend.
Targets;
LONG with 1st Target at 1.92310
2nd target at 1.94343


Good luck with your Trading in the week ahead and I look forward to working with all of our new SOFX Apprentice’s