Hello Naked Traders.
Here below you can read my usual price action anaysis for the week ahead.
Last week we saw a Pin Bar on key support and the possibility to go long on that signal. The pair closed the week above the key resistance at 1.3300 so it’s good for the next week waiting for a possible return of price between 1.3250 and 1.3150 where i will look for a bullish price action signal on daily chart. The next area of resistance is the 1.3480 area.
Aud/Usd over the last week made a strong rally, as expected here on the blog after the pin bar last week, and it stopped exactly at 1.0600 area, a zone of strong resistance. Right now it seems that the price may retrace to 1.0450 support area before we can see a new directional movement. I look forward to see what will happen if price will go to this level beacuse that could be an excellent entry point. I will consider this always only if price will show a typical trading signal of my business plan.
Us Crude WTI Oil
The WTI Oil formed last week an inside/pin bar in the direction of the last bullish movement that was violated on the upside during the last week. In the Friday session this market shows a new signal, to confirm the possibility of seeing a directional movement towards the next resistance areas at $ 97.50 and then to $ 100.00. The possible risk: reward scenario is really very interesting.
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