Here i come with the usual weekly trading outlook:
Last Thursday the pair showed a long signal on the daily chart. Friday confirming with the previous highs breaking. So I can expect a continuation of the trend. We need to be careful, however, because we are next to the 1.0600 resistance level, which for now has been the wall for buyers. The break of this level would give the price of the incentive to continue the upward movement of at least two figures. The bearish breakdown instead would push bears on the market.
The most forex traded pair shows a price action naked signal. In fact, Friday the price closed the session with a inside day. The short term trend is obviously long. The bullish breakout of 1.3060 would validate the signal that has as its profit target 1.3370 area.
The Kiwi, correlated strongly with the aussie, has shown a strong price action naked signal last Thursday off of the daily chart as we’ve seen here on my blog. Friday, price broke upwards and has validated the signal. I expect an extension of the price toward the area between 0.8400 and 0.8500.
The price of WTI OIL has declined significantly in the last trading week. Now we can wait for the price to 94.50 area to understand what to do. A short signal on this level would be a great selling point while a strong push above this level on a closing daily base would see buyers still on this market.
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