I am pretty much satisfied with my Forex trading system and have therefore been looking for something to help me avoid boredom, which I'm thinking I might be able to do by comparing one of my forecasts each day with that of Christopher Lewis. Today I'm going to look at EURUSD. Perhaps the pair eventually will break above the weekly candlestick, as Chris mentioned, but for the immediate future at least, I am definitely expecting to see this exchange rate continue to drop.
According to Daily Forex... "Christopher Lewis is a Columbus, OH-based Forex trader who enjoys trading a wide range of pairs from the traditional EUR/USD to more exotic USD/RUB, and many things in between. Unlike many Forex traders who prefer to trade in a specific market session, Christopher takes advantage of the flexibility provided by the currency markets, and he trades in all sessions, most often when he’s taking a study break from pursuing degrees in both finance and computer science. "Mr. Lewis most often trades on the daily or weekly chart, rather than on a shorter time frame, making his market outlooks suitable for traders in all time zones. In addition to multiple daily analyses, he has been providing DailyForex.com traders with regular video analyses for several years. He also contributes weekly Forex forecasts, monthly outlooks and even yearly forecasts, all of which are all highly valued by his loyal following. Christopher has tested dozens of Forex trading platforms during his years as a trader, though he now uses GFT’s 360 DealBook when placing personal trades. "In late 2014 Mr. Lewis began contributing signals to ForexSignalz.com, where he collaborates with DailyForex’s chief trader, Adam Lemon, to provide additional signals to serious traders directly to their mobile phones. Mr. Lewis’s signals, although not overly aggressive, are largely based upon his own personal trades and trading strategies that he has cultivated over many years, making them suitable for traders at all levels and for traders using a range of trading platforms. "When he’s not studying, trading or chasing after his two young children, Christopher manages to find time to operate his own Forex website, aptly called The Trader Guy."
I was stopped out of EURUSD, but my charts are still suggesting to me that it ought to resume a southbound trajectory within the next 24 hours or so. Nonetheless, I've given up on it and bought EURGBP. I see no need to wait for a pullback. It looks to me like it's getting ready to climb higher right now.
At 1.1790 my charts are finally telling me there is a good chance EURUSD is reversing the downward slope I see it as having initiated back on September 22, 2017. Since that now puts me in agreement with Christopher Lewis' forecast (a trader whom I respect), if and when I do enter a long position, I will be executing the trade with that much more confidence.