Here i come with the usual weekly trading outlook:
As seen in the last article here on the blog on Thursday the price had formed a clear price action short signal. The price then during the friday session broke down the 1.3050 level, closing the week at 1.3020 area confirming the signal. The next targets are 1.2960 – 1.2820 – 1.2650.
The cable against the yen has formed a clear and strong price action short signal. The key resistance area at 128.00 figure it has been maintained very well even in the weekly closing. The primary target here is 125.60 area. In the medium term the 122.80 zone is the most important support area.
Xag/Usd – Silver
In the article that i wrote last Wednesday here on the blog I pointed out a possible short on the cfd of silver by reading a simple price action short signal. The price went in the next sessions to break down the level seen here on the blog pushing the price at the end of the week to the $ 32.00 area. From here, the next major support level is located at the $ 31.00 zone.
The U.S. oil is at the stage of being able to explode in the coming trading sessions. In fact, on the daily chart we can see a clear ” compression ” triangle and a strong price action signal. The bearish breakout of $ 90.00 would confirm my analysis with a profit target very attractive around the $ 80.00.
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