Valeria Bednarik's Summer Recommendations
International Trading
1. What Are Your Recommendations On How To Trade Forex This Summer? What Should Be The Trader's Tasks In August? What Should We Prepare Before Leaving For Holidays?
2. What Book Do You Recommend Us To Read This Summer?
This is a book, EVERYBODY who wants to trade MUST read. The base of the technical analysis, “Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications” by John J. Murphy.3. What Should We Do When Returning To The Markets In September And What Is Your Forecast For The Major Currencies In Q4?
Market is all about understanding the behavior of majors and detecting strength and weakness that comes not only from macro perspective, but from investors sentiment also. What is quite important is an early detection of this last. Once back to September, I will return to my classical trading methodology, thus at least give the market 3 days to settle down and adjust to the new conditions.
Regarding majors, I would expect the dollar to remain weak, not seeing any chance there for a rate hike, that then should favor current Japanese Yen strength. Pound will be the focus for me, as I do still believe that the year won’t end without a rate hike in the UK, while I expect the Euro to lose current bullish momentum. Optimism won’t last if the euro zone economic readings don’t start to improve fast, something quite unlikely at this point.
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Valeria Bednarik is Chief Analyst at FXstreet.com and has been an active Forex trader for the last 5 years. [More about Valeria]
