Forex Sailing Trading Analysis for May 2-7

After posting Forex Sailing weekly online forex trading opportunity analysis reports for you on this blog (to help you spot some of the Forex Sailing opportunities), I’ve discovered a format that will better help you find forex trading opportunities online for sailing.
Instead of only focusing on the 6 MAJOR currency pairs (as I did before), I’m now going to focus on where some cool forex trading opportunities are. I’ll also explain why some currency pairs don’t have any opportunities for Forex Sailing.

Currency Pairs to Avoid when Trading Forex Online this week

The USD & AUD have multiple HIGH-IMPACT fundamental  news announcements scheduled this week. Due to the unpredictability of these fundamental announcements, I’m avoiding using these pairs for any online forex trading or Forex Sailing.

Consolidated or UGLY Online Forex Trading Charts

After eliminating the potentially volatile USD & AUD for this week, we’re left with quite a few currency pairs. Several charts either provide mixed messages, or just don’t give a solid forex trading opportunity. Since these currency pairs don’t have a pretty daily picture for online forex trading this week, I’m going to label these currency pairs as “consolidated,” and therefore not-tradeable for forex sailing this week.
Here’s the list of consolidated currency pairs:

• GBP/JPY
• CAD/JPY
• EUR/CHF
• EUR/JPY
• CHF/JPY

Strong Online Forex Trading Opportunities This Week

After sifting out the currency pairs above for either being “too risky” or “too confusing,” there are some really good places to look for making some nice online forex trades with Forex Sailing.

Look for LONG Sails with GBP/CHF

The GBP/CHF had a very nice successful forex sail last week. The daily chart still looks like a good place to look for another forex sailing trading opportunity. The fibonacci wave pattern looks like it could be entering a V (not guaranteed, but it looks good):

Look for SHORT Sails with EUR/CAD

The EUR/CAD has been in a steady daily downtrend all year. There isn’t a reason for this trend to end yet, so it looks like a good place to look for SHORT forex sailing opportunities for forex trading online. If you look at the daily EUR/CAD chart below, you should be able to see a clean downtrend:

Look for SHORT Sails with EUR/GBP

The EUR/GBP has a nice recent daily downtrend that still has potential for a SHORT forex trading opportunity. Although this picture doesn’t provide as clear of a fibonacci wave pattern as the  GBP/CHF or EUR/CAD it looks like a good online forex trading opportunity.

More Forex Trading Opportunities for Forex Sailing?

I’ve filtered through a bunch of online forex trading opportunities to show you some currency pairs to avoid this week & some to watch closely for forex trading opportunities.
There are probably legitimate Forex Sailing opportunities that I missed for this blog post. Do your own research and follow the rules for forex sailing and find other online forex trading opportunities this week. The three I gave you are enough, but there’s more for the eager student who wants to do a little research!

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