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, EUR/USD, NZD/USD.
AUD/USD: Price approaching a support zone
AUD/USD price is approaching a support zone at 0.735-0.738. Watch out for bullish price action and a potential move to the upside from this major zone.
EUR/NZD: Engulfing reversal price action at resistance zone
EUR/NZD has an engulfing reversal price action at resistance zone 1.58-1.59. Potential move to the downside from this zone.
EUR/USD: Still going short after nice bearish price action
As mentioned last week, we went short on a nice pinbar. We are still aiming for 1.087 target (2.86 risk / reward).
NZD/USD: Potential move to the upside 3.5-1 R/R
We mentioned this support zone last week. NZD/USD pinbar price action at resistance zone 0.696-0.7. Potential move to the upside from this zone. 0.70255 Would be a good entry point to go long
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