In this week's market analysis, we will look at potential trading opportunities and zones where we should look for price action, evidence and potential moves.
Pairs and markets analyzed this week: AUD/USD, EUR/NZD, GBP/USD, AUS200
AUS200 testing resistance zone, watch for bearish price action
AUS200 testing strong zone 5430-5462, Watch out for bearish evidence and a potential move to the downside from this major zone. (target 5180).
AUD/USD testing resistance, watch out for bearish price action
AUD/USD is testing strong zone 0.765-0.7685, watch out for bearish evidence and a potential move to the downside from this major zone. (0.745 target).
EUR/NZD, two possible areas to enter short trades
EUR/NZD is in a downtrend, look for bearish price action to go short (target 1.515)
Two resistance zones to watch:
*Minor resistance area (1.551-1.557)
*Major Resistance area (1.578-1.589)
GBP/USD, time to exit trade and look for bullish price action
GBP/USD is approaching a significant support zone (1.28-1.29), if you went short (as recommended two weeks ago) it's time to look for a bullish price action and a potential move to the upside (for a 1.333 target).
DISCLAIMER: Trading financial instruments, including Stocks, Futures, Forex or Options on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that your losses can exceed deposits and therefore you should not invest money you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts. Past performance, whether actual or hypothetical, is not necessarily indicative of future results. All depictions of trades whether by video or image are for illustrative purposes only and not a recommendation to buy or sell any particular financial instrument. See full risk disclosure. By viewing this site's Content or Videos you agree to the Privacy and Disclaimer.