Hello Price Action Traders.
The pair, during past week that saw several important macro events, has gone up by several break out of important levels, first and foremost 1.3200 resistance area. On Friday, the price has consolidated above this level and is therefore easy to see new extensions in the next week. Clearly now is 1.3300 be overcome and that, if passed, would push the eur/usd 100 pips above at least at 1.3400 area, so this week I’ll look for long trading signals.
One of the most observed pairs by traders is just usd/jpy which, after selling the Japanese yen due to aggressive monetary policies of BOJ, depreciated steadily until arriving at 103.00. In the last few sessions have seen a normal trend reversals so well-defined and that led Usd/Jpy to the 95.00 key level. Friday price formed one of my typical bullish trading signals that use and that you can take advantage for next trading week. Key resistance levels are marked on the chart below.
S&P 500 CFD
The U.S. American S&P 500 index, as discussed here on the blog last Thursday, broke the previous high upward and, Friday, pushed forcefully closing the session with a bullish white candle and that defines the possible continuation of this bullish market in the week ahead. Obviously this situation may reflect also on other international stock indices in the coming days. The primary resistance level is 1,670.
It’s all for today!
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