Welcome to this week’s Forex Market Monday, where we dive into the latest movements in crypto and traditional currencies. Mondays are my time to set alerts and build my trading game plan for the week, so let’s break down what’s on my radar.
Key Highlights
Setting Alerts for the Week:
This is my Monday routine: scan charts, set alerts, and let the trades come to me when the price hits key levels.
Algorithmic Trading:
I’m actively developing algorithms for Forex, crypto, and equities.
StatsEdgePro members get access to these systems and exclusive Discord discussions.
Currency Market Breakdown
Dollar Index (DXY)
After a sharp rally, DXY looks to be reversing into its previous range.
Watching for potential pullbacks and rebounds near key support levels.
Gold (XAU/USD)
Pulling back to an anchored VWAP from recent lows.
Plan: If gold stabilizes with a couple of 30-minute candles showing strength, I’ll add to my position.
Euro (EUR/USD)
Testing the 1.10–1.1060 zone, which was previous support and resistance.
Setting alerts to monitor a breakout or rejection from this area.
USD/JPY
Approaching levels where the Bank of Japan has intervened in the past.
Watching for a break below last week’s hammer candle low to potentially short this pair.
Canadian Dollar (USD/CAD)
Monitoring a pullback into the breakout zone at ~1.34 for a possible long setup.
Crypto Market Insights
Bitcoin (BTC)
Pullback from just under $100K—a key psychological level.
Still holding core positions and waiting to see how this consolidation resolves.
Ethereum (ETH)
Breaking higher as Bitcoin consolidates.
This could signal a rotation into altcoins.
Tools and Scanning Setup
Using TrendSpider to find crypto assets near their anchored VWAP levels.
Scanning for clean breakouts above long-term resistance for trade opportunities.
If you want to replicate this, I’ll share my TrendSpider scan settings in the link below.
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