Time to start new week, but I have a small problem.  Sharp moves that happened in JPY crosses late Thursday and early Friday, have rendered 1H charts distorted in my eyes. Few other pairs were effected as well. This applies only to hourly charts. Those swings were not out of whack on 4H charts, and smaller time frames have built up enough history since then to be useful. Unfortunately, hourly charts are my “staple” when it comes to this blog. That’s why I’m looking at a little different trades than usually.

On this 4H chart of NZD-CAD I think there will be a an upside breakout at 0.6940. My objective is 0.7150. In the event price moves down first, another buy order is placed at 0.6650, with a target 0.6875. I don’t expect quick resolution of these trades and not placing firm stops, but rather keep mental ones at about half the objective values.
Next potential trade is in a cross I rarely trade, CHF-JPY. Other Yen pairs present better opportunities most of the time, or move more. This time, however, exception is warranted.

Another 4H chart, with an entry point at 78.10, objective 79.80. Just like in the example before, I don’t think fast result will happen, but then again, this is an intermediate term chart, so expectations and mind set have to adjusted accordingly. If by this time tomorrow these trades are not triggered and hourly charts create some better set ups, these trades will probably be cancelled.
This week again I’m looking for downside moves in EUR-GBP, with, hopefully, better results. GBP-JPY 5m upside moves are always in play. This being Sunday, there might be some gaps on the open, which I will try to exploit.
Expectation is for busy week, last full trading week of the year. After that, holiday season kicks in and trading conditions will most likely change. More about it later.

Mike K.