WEEKLY FOREX PRICE ACTION ANALYSIS

Hello Price Action Naked Traders

Gbp/Usd

The daily chart of gbp/usd shows the strong bearish movement of recent weeks that brought the price to 1.5500 area. For the next week I’ll look for short price action signals on pullback to 1.5650 resistance. The target areas are the support zones between 1.5300 and 1.5250.

 

Eur/Jpy

The eur/jpy is in a strong bullish trend. On Friday, the price made a clear price action long signal in the direction of the trend. I’m a swing trader and a trend follower so this is a good trading opportunity to join this trend. The false break of the key level at 123.00 area confirms this bullish view. The first resistance level is the 127.50 area.

 

Nzd/Usd

The daily chart of the kiwi against the US dollar shows us a clear false break of 0.8450 key area. In this case the price could fall in the tradignrange who sees the primary support at 0.8300. Then, short opportunities right here on daily chart and long opportunities if  price were to go to test the 0.8300 support area. Of course everything must have to be confirmed by clear price action signals.

It’s all for today!

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