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/AUD, EUR/USD, GBPUSD, Gold, NZDUSD
AUD/USD Short on 50% Retracement Swing Trade
We finally got a nice Bearish Price Action (engulfing reversal) on friday, however the body of that candle was a bit too big to enter that trade with a decent Risk/reward ratio.
So we are planning to enter this trade once we have a 50% Retracement, this would give us a nice 3.82 Risk/reward.
EUR/AUD at Support Watch out for bullish Price Action
EUR/AUD Price at strong zone 1.444-1.45, Watch out for bullish Price Action ( Bullish evidence) and a potential move to the upside from this major zone.
EUR/USD, Went short after a nice Bearish Price Action
As mentioned last week, EUR/USD was at strong resistance zone and we were waiting for a good Price Action to go short.
We entered a trade with a 2.86 Risk / Reward with a 1.087 target.
GBP/USD testing Resistance zone, Wait for Bearish Price Action
GBP/USD has been testing a resistance zone 1.342- 1.356, Watch out for bearish evidence and a potential move to the downside from this major zone.
XAU/USD testing Support, watch out for Bullish Price Action
XAU/USD Price is testing a support zone 1328.6-1335, Watch out for bullish evidence and a potential move to the upside from this major zone.
NZD/USD Price approaching support zone. Look for Price Action
NZD/USD Price approaching a support zone 0.696-0.7, Watch out for bullish evidence and a potential move to the upside from this major zone.
Disclaimer: This is educational and general information only (not advice or a recommendation).
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.