PRICE ACTION | WEEKLY FOREX ANALYSIS

Hello Price Action Traders.

Eur/Usd

The pair has seen a week of strong declines moving from 1.3400 to 1.3100 in a few sessions and giving this market a more bearish  footprint. Since the change is made in this market for the next week I think to look for to some trading signals on price returns to 1.3180 area to sell the pair. The first supports are 1.3000 and 1.2820.

 

Usd/Jpy

The usd / jpy currency pair, in the last five days began a rally that looks more than a pullback that a real strong reversal. This week we will see how price will behave at 98.80/99.00 area where, if the price showed short opportunity might be interesting to trade. Only breaks above 99.00 (confirmed by a few days above this level) would change the short term  outlook.

 

Xau/Usd – Gold

The gold market is in a solid downtrend reinforced by the recent sell-off that saw the famous metal move under $ 1,300 and close the week below this area. Staying with the direction of the market I prefer a short signal  on price return to $ 1358, previous support that could act as resistance.

 

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