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: EUR/AUD, GBPUSD and NZD/USD
EUR/AUD testing resistance area, watch for a pullback opportunity
EUR/AUD is testing resistance area (1.42077-1.42701), watch for a pullback opportunity. Look for a nice bearish price action and potential move to the downside from this zone (1st management point 1.40625).
GBP/USD approaching our 1st management point
As mentioned last week, GBP/USD was testing a support area and we wanted to go long. price moved up by over 200 pips (Theresa May's brexit speech had a lot to do with it).
Our 1st management point is still 1.265.
NZD/USD at resistance area, waiting for bearish price action
NZD/USD is testing resistance area (0.71912-0.72542) , waiting for bearish price action for a potential move to the downside from this zone
Disclaimer: This is educational and general information only (not advice or a recommendation).
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