PRICE ACTION BLOG | FOREX WEEKLY ANALYSIS

Hello Naked Traders.

Aud/Usd

The Australian dollar found support in last Friday session sitting right on the key level at 1.0300. On this important area the price shows us a clear and obvious price action signal. We can therefore expect an upside of the couple in the next few days.

 

Usd/Cad

The u.s. dollar in the last two weeks had strength against most counterparts. Even with the Canadian dollar, the greenback has appreciated substantially until it get to touch the key area 1.0050. In this area, on the daily chart, there’s a clear price action signal that indicates a possible reversal, at least temporarily, of the price. The first support level is 0.9930. Beware of the WTI oil on any stretch since it correlates negatively with the pair.

Usd/Jpy

The pair, in the last week, has been bought strongly pushed up to 81.50. Nothing better than a trend so clear and well argued to trade the market with a swing simple method. During the next week I will look forĀ  some price action signals at 80.30 80.70/area where a long signal would be optimal to ride this strong trend.

SPX 500

The American s&p 500 index in recent weeks has seen a sharp decline. Last Friday, however, the price has reached a very important level and it’s the 1.345.00 key area. Here the price formed on a daily price chart an obvious long signal indicating a possible rebound or turnaround. First resistance level is 1.380.00 where we could see the price in the coming days.

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