GBPUSD Overview

Hello Price Action Traders.

GBP/USD

The GBP/USD keeps falling since July 16 after the rejection of the resistance at 1.71650. Today the Cable has violated the bullish trendline showing a sign of weakness and has reached the 1.69 zone. In the daily chart 21 exponential moving average maintains a strong bearish slope. Furthermore, the better than expected US GDP data (QoQ, 4% vs 3.0% cons.) boosted the Dollar. However, I would wait for a Price Action signal before placing an order. On the upside, resistance resides at the 1.69950/1.70 area. Further down, support lies at the 1.68200 level.

 

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Luigi Bazzarelli, Professional Trader member of HereForexNaked.com

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End of Week Forex Analysis July 25

Hello Traders!

Take a look at my End of Week Forex Analysis!

Happy Weekend and stay tuned!

Luigi Bazzarelli, Professional Trader member of HereForexNaked.com

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AUDNZD Overview

Hello Price Action Traders.

AUD/NZD

The RBNZ increased the interest rate to 3.5% but the NZD fell. The reason is that it is the fourth time in a row that rates have been increased, therefore, the market has already priced in the news. “Buy the rumors, sell the fact“. The bank also reiterated that it does not believe the exchange rate is sustainable at current levels. As a result, the AUD/NZD skyrocketed for more than 100 pips and is currently trading above its 200 SMA. The pair has also passed the 1.09445 level so next resistance could be found around the 1.10100 zone.

 

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Luigi Bazzarelli, Professional Trader member of HereForexNaked.com

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NZDUSD Price Action Outlook

Hello Price Action Traders.

NZD/USD

The NZD/USD keeps falling from the 0.8835/40 level (high of 2011) trading under its 21 EMA. On Friday the Kiwi bounced on the 0.86500 area and retraced. Yesterday the pair formed a daily Pin Bar rejecting the 38.2 Fibonacci level. Overall, the short term outlook is bearish, so a breakdown of the pin’s low might be a clue for a sell. Keep in mind, however,  that there will be the Interest Rate Decision on Wednesday July 23 for the New Zealand Dollar.

 

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FROM A REAL TRADER TO REAL TRADERS

Luigi Bazzarelli, Professional Trader member of HereForexNaked.com

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EURAUD Technical Analysis

Hello Price Action Traders.

EUR/AUD

The EUR/AUD keeps falling since the Head & Shoulders reversal took place in the beginning of the year. Since June 12, the pair has been maintaining a bearish flag and the last daily candle closed below the bearish continuation pattern. That could be a clue that we’re getting a breakdown and, therefore, a resumption of the downtrend.

 

It’s all for today

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FROM A REAL TRADER TO REAL TRADERS

Luigi Bazzarelli, Professional Trader member of HereForexNaked.com

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EURUSD Price Action Outlook

Hello Price Action Traders.

EUR/USD

The EUR/USD broke the bullish trendline after the Murphy’s Head and Shoulders pattern and reached the support area at 1.3500 (low of June) on Friday, as expected. Looking at the Price Action of the last week, we can identify a daily Pin Bar that rejected the support. This could be a sign of a re-test of the low of June. However, only a move above the Pin’s high could be a clue for a buy.

 

It’s all for today

If you want to keep reading my in- depth outlook of the market you can access to my premium forex signal service and be part of my professional community and then become a true price action trader subscribing to www.hereforexnaked.com

Get Naked Get profit!

FROM A REAL TRADER TO REAL TRADERS

Luigi Bazzarelli, Professional Trader member of HereForexNaked.com

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End of Week Forex Analysis July 18

Hello Traders!

Take a look at my End of Week Forex Analysis!

Happy Weekend and stay tuned!

Luigi, professional trader member of HereForexNaked.com

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NZDJPY Technical Analysis

Hello Price Action Traders.

NZD/JPY

The NZD/JPY made a 7 year high on April at 89.89 and after three months the pair made a second high at 89.65. Volumes are increasing as the price falls so it seems that NZD/JPY is forming a Double Top reversal. However, we have to have the breakdown of the support (low between tops) for a Double Top pattern.

 

It’s all for today

If you want to keep reading my in- depth outlook of the market you can access to my premium forex signal service and be part of my professional community and then become a true price action trader subscribing to www.hereforexnaked.com

Get Naked Get profit!

FROM A REAL TRADER TO REAL TRADERS

Luigi, Professional Trader member of HereForexNaked.com

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EURCAD Price Action Signal

Hello Price Action Traders.

EUR/CAD

The EUR/CAD keeps falling after the Head & Shoulders reversal formation and is traveling in a bearish equidistant channel. In addition, the pair is trading below its 21 Exponential Moving Average. Yesterday the price rejected the 21 EMA and formed a daily Pin Bar. This could be a price action trading idea if the price goes below the pin’s low.

 

It’s all for today

If you want to keep reading my in- depth outlook of the market you can access to my premium forex signal service and be part of my professional community and then become a true price action trader subscribing to www.hereforexnaked.com

Get Naked Get profit!

FROM A REAL TRADER TO REAL TRADERS

Luigi, Professional Trader member of HereForexNaked.com

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End of Week Forex Analysis July 11

Hello Traders!

Take a look at my End of Week Forex Analysis!

Happy Weekend and stay tuned!

Luigi, professional trader member of HereForexNaked.com

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