 Hi, my name's Leon Roe currency trader and trading coach at trading 180.com and welcome to this week's applying demand for X technical analysis If you're new to the video welcome in if you're returning welcome back Just want to say again. Thank you for all the lovely comments up and receiving, you know in YouTube and in emails you know really appreciate the feedback and Thank you. I will continue to provide High-quality content and if you're getting if you're new we have the pairs timestamped in the description box below as well as some other links as well so We'll start off on the fundamentals for this week as we know fundamentals and really sentiment our drivers of Price and we can derive value from fundamentals So anyone who says that fundamentals don't work doesn't know how to trade the fundamentals and doesn't really understand About risk sentiment and if you do want to understand about fundamentals and this sentiment in the way that I trade Then in the link in the description box below I have a fundamental and sentiment analysis course go through 14 videos Here you just click on the videos choose the one that you want to go over and Also, I have a fundamental analysis spreadsheet and in this I just give my view on the currency that I'm either bullish Barish on varying degrees of strength. This is where I derive fundamental analysis where I derive my Get my data from where I get my sentiment some of the sources I get my sentiment analysis from in the last update which is today What this doesn't take into account though is is sentiment. It's all to do with Fundamental analysis and if you don't understand risk on a risk of sentiment again, you'll discover that in the course It's free by the way as well So all it takes is just a bit of time and you can go through it and you should be Benefit from really how to trade fundamental analysis. So last week You know, we had a bit of risk what they're a bit of but risk off kind of dissipated a little bit and You know the week before I think it was Trump, you know, it was a full-blown trade war Trump increased tariffs on Chinese goods Coming into the country within the next couple of weeks and then last week He kind of you know downplayed it and soothed the market's fears by Calling the rift with China a squabble. So You know the market has kind of eased a little bit stock markets gone up a little bit as well And the risk of currencies like the yen and the Swiss franc really have looked like Bargain prices as long as you know, the risk tends to be less off It's not risk on and risk off isn't necessarily like a light switch You have varying degrees and depends on what the market is focused on but again That's all you know in the fundamental analysis course now this week and a week ahead We have minutes from the Federal Reserve the Reserve Bank of Australia and the European Central Bank definitely a Potential mover. I think the RBI are are expected to be very dovish even though prices for the Australian dollar have been falling And especially was well with the ECB as well I think they're probably going to be in dovish if they don't get the inflation that they want inflation targets Anyway alongside US durable goods orders housing data and flash market PMIs UK inflation and retail trade Eurozone flash consumer confident market PMIs Germany business morale and Japan first quarter GDP. That's going to be quite important Growth trade balance inflation. Yep. So Japan is a big big week I think this is going to be a big week in general in the week next week or two because you've also got to add The European elections so 2019 European elections if you're not if you're watching this and you're not in Europe This is a big deal Where all the countries basically in Europe get to they're voting on the parties that going to represent them and The the talk is that you're going to get a lot of anti Europe Parties in you know will vote in on what takes place and certain votes within the European Union as the One of the brexit parties is leading the polls. So it's not looking good, you know for Europe as a whole I've been short the euro for a while and I think it's not going to probably get any better But again, we don't know for sure But the consensus is probably going to be a lot of uncertainty around European elections And if there are a lot of anti establishment and anti Europe parties actually, you know getting a seat at the table Then it doesn't look good for Europe as a whole. So I Think the next few weeks is going to be very very interesting very very interesting so anyways, let's move on to the technical analysis and We start off as we normally do on the Dow Jones dollar index Dow Jones dollar index is a measure of dollar strength against a basket of the major currencies like the pound the yen and The euro as well as the Australian dollar. So this was last week's analysis and we came down to this demand zone I've been you know bullish on the dollar for for a very long time So I'm just looking for buying opportunities and we don't necessarily buy the Dow Jones dollar index we just look for strength at levels and See what we do is we look for if it starts to you know start to turn bullish Then we look for buy trades on the other dollar crosses like the dollar yen dollar Swiss and etc At you know certain supply and demand zones So this will from last week Prices came down here and I was looking at you know prices either holding here Or you know taking a bit of a dip and then looking to put it by and as we can see this week dollar index has Strengthened so if we go to the you know price chart and we look to update the chart at the moment Pretty much where we're at the top of this Supplier zone right here. So What we can do if you're looking to short the the dollar Then now would be the time you'll be looking for short trades on any of the dollar crosses Yeah That creates a nice demand zone because we look for proof of value You know the concept that teaches proof of value not drop base rally rally base drop This is proven to be a bargain area. Why because you can see that prices have made new highs buyers have piled in This is proof of a bargain area This was proof of a bargain area in the past But for this currency pair was currency index. I'm looking to look for putting pullbacks into You know some sort of demand zone If it pulls back all the way into that demands and then fine if it makes a new hire Then I'll be looking for pullback into newly created demands and before looking to probably get long on the dollar I am long and a few pairs anyway So this just really just adds to those those long dollar trades so That's pretty much it for this week on the dollar index. You're just looking for dollar strength for maybe some pullbacks into certain levels Moving on to the Dollar yen dollar yen this week as we've seen There was risk off last week So the the yen's jumped into a risk-off environment, you know safe haven Plays I was saying that if this level doesn't work, then this is going to be the 109 level is going to be the level to look For buy trades Again, there was some risk-off sentiment as you know I'm in this trade got in this trade from around the 10923 level And so did many of the traders that I mentor as well saw the entry and now we're up So far looking to probably ride this if we can if risk stays less off And I think the dollar should really want to strengthen especially with the euro Looking to probably weaken and even the pound, you know some Brexit sentiment that came into the market with the Talks really breaking down. So I think the dollar is it's probably going to be the king Against the yen it may not be so simply because there are risk events coming on So you could see the yen also strengthen as well. It doesn't mean it is a strong currency overall But just from safe haven plays, but it's a good level to get long in we're up You know, I think two to one at the moment Targets are going to be up here. It's going to be more of a long longer term, you know hold So decent risk reward On that trade if you are looking to potentially get long on the dollar. Let's go to the chart you'd be looking at Pretty much more of a pullback and let's update this More a pullback into this into this demand zone if we can get it before looking at again long trades Long trades if you are looking for short trades. I think now would probably be the time All right. Well, you've got a supply zone right there So you'd be waiting for the dollar index to look for sell trades, you know to sell off And then you'd be looking to short if not then you're looking at a Short trade up at this zone would be the first zone right there You'd be looking for any kind of short trades moving on to the dollar Swiss and dollar Swiss I was looking at buying around this demand zone around here But we just didn't quite get prices come down to that level when we've We've turned around on some dollar strength and less risk off, I guess So again, if we're looking at the charts, we're looking at dollar Swiss If we're looking to get long We'd be looking for prices to really kind of pull back to this level here Or what you're looking for is bit of a pullback New highs proof of value and then prices to really come back into this area Of newly created demand before looking to get long if you are looking to get short Then you'll be looking at prices really coming all the way up to here before looking at any kind of short trades Just looking at maybe some other confluences Now I think that's about it for now, but still looking to get long on this currency pair moving on to the Dollars CAD dollar CAD the CAD has been Strong as of late, you know, so against the dollar It really hasn't gone anywhere kind of bounced in between this demand and supplies And this is what happens when you have to compete in currencies when it comes to strength you tend to get So you tend to what you should get Ranging markets trending markets are caused by a strong versus a weak currency So yeah, we're pretty much in this, you know this in this range and Going to the charts Again, if we're looking at any kind of, you know short trades there, but just being you know be be mindful that the more a level is touched that The weaker it becomes so this level of suppliers touched a couple of times So can you expect it to really hold in fact again? I'm a buyer with a really good dollar. So I'm looking for Really pullbacks to this fresher area of Demand before looking at long trades, but if you do want to take advantage of maybe some dollar weakness then This is probably going to be the area to look for some sort of weakness on the dollar and Buying the Canadian dollar as well look for oil to be to strengthen when buying the Canadian dollar Moving on to the New Zealand dollar US dollar and And So far we've had I was really waiting for price to really kind of come up to a higher zone before looking at any short trades But this week we just didn't get any You know came close but didn't get anything and Yeah, so we've sold off The New Zealand Reserve Bank of New Zealand is dovish on their statement and the the US dollar is Neutral really the best currency. So you'll see him pretty much, you know a sell-off happens So if we're looking at any kind of trades right now If you're looking to buy the New Zealand dollar now is a decent zone to be fair to try and look for long trades We've also got a bit of a demand zone around here and I do from a technical level this demand zone is very nice nice fresh area for various reasons a bit of a breakout CPR zone as well Nice nice long trade there If I was looking to get long but because we are looking to get short on this Really your next Short trade and again, this isn't financial advice. This is just what I'm Looking at these will probably be the levels that I'd be looking at getting Short on I'm gonna delete some of this just to clear up Some of these higher levels Don't really need all this now Not for now anyway, and if we do then I'll just I'll start to add it Add it on But yeah, these are probably the supply zones the immediate supply zones to look for potential, you know short trades Within these areas just seem down into a lower time frame and look for Potential short trades for looking for long trades Now is you know really the time I do like this from a technical perspective just not from a fundamental But if the dollar starts to sell off then potentially we could have a nice buy trade at the moment nice bargain area pound dollar and There was demand zone here, but I was saying to a few traders that I'm not looking to buy I think I said last week matter of fact as well we can check out that video and not looking to be a buyer of the The pound against the dollar and we've had some again negative Brexit sentiment as mentioned before We've talks breaking down between the conservative and labor government. So without a deal being on the table then It causes some more uncertainty sentiment negative sentiment towards the pound and you've really seen it this week Pounders pretty much sold off. All right, so Fundamentally, it's it's one of the best of The when you compare it, you know to the euro and Japanese yen, etc. You know It's the British economy is actually in very good standing But it's just negative sentiment as cause this Brexit sentiment is caused prices to really sell off But what the sentiment do it brings prices to where we want to be buyers. So I'll be a buyer of the pound not against necessarily the The the dollar but against other pairs when sentiment starts to Sentiment risk off sentiment starts to change so bit of a Wide zone wide demand zone coming in. In fact, I think I'm gonna Add all that as demand For various reasons demand Rather than put in other zones, but this whole area of is an area of demand and We also have some confluence and when you have wide areas of demand what you can do is Add the support and resistance confluence some horizontal support and resistance within that area so I think Those zones right now potential buyer trades if dollars starts to weaken and the pound starts to strengthen You know, you've probably got some may have some profit-taking going on At some point markets don't go down forever So if we take advantage of not necessarily a reversal But maybe some sort of profit-taking that would be the first area second area is going to be at this levels 1.26 round number just below that If you're looking to be a buyer of the dollar, which means you're gonna be short in this currency pair I think yeah, that's gonna be the area right here all the way up here So we're looking for really pulled back the move has really gone But if we do get maybe a bullish candle, yeah, or I'll just Clear these out the way and this is probably in for the next coming weeks if you're looking to get short You'd be looking for a bullish candle then a new low So that'd be proof of value and that would create a supply zone in this area here Or you're looking for higher highs higher lows, so you're looking for move up and then you're looking for Move like this bit complex, but then move down Then move back up to that supply zone before looking at getting Short don't know whether that's gonna happen this week, but in the next coming weeks That would be how we would plan out, you know, shorting this currency pair moving on to the euro dollar and Finally managed to get a short missed out on this one price of the pretty much gone a few weeks back and Managed to get short on this as well This was a trade that I called on YouTube on the first of May so you can check out the CPR zone Trade as well Watch that video so you managed to get in short around here and now we're looking at you know targets around this demand zone and probably beyond the the demand zone simply because Europe is going through their elections and a lot of uncertainty It should cause the euro to weaken and The dollar as long as everything remains fairly neutral to strengthen So that's what we'll be looking at But if you are looking to take advantage, obviously I could be wrong Anything can happen in the markets. It's just the game of probabilities but if you do want to you know take advantage of maybe some positive sentiment from the euro and Maybe some negative sentiment and some profit taking from the dollar This is going to be, you know, the best area to look for by trades here If you're now looking for a short trade, I think the next short trade at the moment is going to be around this supply zone I really should be drawing it from here from that supply zone before looking to get short And less prices obviously start to create lower highs lower lows and then we'd be waiting for You know that lower high created Supply zone and then look to get short but Yeah, I think that's that's it pretty much for the euro dollar Looking at the euro yen and in fact I should be going on to Here so the euro yen this week again Risk off Prices, you know, I've sold off a little bit down into this This level of support within demand I personally expect prices to probably start to still start to fall away again as the yen will end up potentially strengthening due to a risk off against the Euro currency so going to the euro yen If you're looking at getting in sure and I'm going to move this down probably to around here And then what you'd be looking for is any kind of pullbacks into Supply zones, you know in the lower time frame So you'd be looking at a move Up into here before looking at short trades or Into here if prices start to come go lower then you're looking at This newly created supply zone proof of value and then prices, so Should be here and then you'd be looking at short trades from around that supply zone But again with the European elections coming up just be careful because potentially a lot of volatility coming into the markets Moving on to the Aussie dollar again Aussie dollar Australia Reserve Bank Australia being dovish The Australia and the US dollar being the stronger of the two you can start to see where prices have definitely fallen away Again looking at looking at potentially trying to get short on this but prices just didn't come up to that level So going to the charts We can start to kind of drag this down a little bit I'm gonna do is I'm gonna probably put it around where the lowest right there delete that level there for Again, the reason why I'm doing it really here is because It's just simply because to have the demand zone where I normally draw them was from here It's really too much of a wider zone and it was You know prices really prove that there's really no demand there not enough demand there But we don't know whether there's demand here. I wouldn't normally draw demand zone here But for illustration purposes, this is where I'm gonna You know draw it and have it from here We can see that we've had a bit of support here as well So if you are looking to buy the Australian dollar, you'd be looking at any putty time from now Probably preferably into that before there if you're looking to take advantage of maybe some profit taking and hopefully buy Just can get back up to this level and you'd be looking at, you know short trades from around this supply zone you also have an area of Support turned resistance so that adds to the supply and demand equation within this area So you'd be looking at potential short trades From the underside of that if prices do start to pull back prices don't go down forever prices definitely will pull back at some point and finally the Australian dollar Japanese yen and Again last week risk off Prices have really sold off from this area creating some supply zones and We go to Ozzie yen again, we'll just Bring this demand zone down to where we're at probably now You get rid of that one and maybe start to just add some supply zones as you've made lower highs lower lows Right there, so what you're now looking at is pullbacks into any of these types of Supply zones if you think that risk is going to be on and the Japanese yen is going to strengthen If you're looking at potential risk on and there was Australian elections matter-of-fact over the weekend as well So that could have a positive Positive sentiment on you know the Australian dollar so you could see from pretty much from now Prices start to turn around right But for me fundamentally there are you know better trades out there So potentially I'll probably maybe stay clear. I will stay clear of this currency pair But again great opportunity for any long trades if if you get some positive sentiment on the Sunday open so that brings us to the end of the The analysis for this week Thank you for staying this long if you have and I do wish you all a great trading week Please don't forget to like subscribe share comment as well And I'll try and get back to you as soon as possible and I hope you have all have a great trading week. Take care