How I am Trading the Forex Majors This Week (EURUSD, USDJPY, GBPUSD, USDCAD) March 17

Cory Mitchell, CMT

There is a dominant theme in recent days and that is the return of strength in the USD.

The EURUSD and GBPUSD have been selling off, while the USDJPY and USDCHF are rallying. The AUDUSD and NZDUSD continue to sell off, while the USDCAD is running away to the upside.

Here's how I am trading these pairs this week, the levels I am watching, and the types of entries I am using. 

I am using some profit targets if there are technical levels around. I am also utilizing trailing stop losses, and using Renko charts to help keep me in the big moves when they occur.

Initial stop losses are placed just outside the consolidation, whatever timeframe, on the opposite side from the breakout.

For another trade idea, see EURCHF Defended at 1.0540.

By Cory Mitchell, CMT. Join me in my free Facebook swing trading group.

Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage.

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