Hello Price Action Traders.
Eur/usd remains above the support seen here on the blog in the past weeks, 1.2880 area. Prices have failed to break down the recent lows and have gone upward going to tap 1.3000 area. In the week ahead I’ll keep monitored this market because if the price continues the rally I’ll look for short trading signals between 1.3050 and 1.3130, resistance area.
The pair gbp/usd in recent days broke the short-term resistance at 1.5165 and ended the week with a bullish closing above 1.5200. In this case it opened the door for a movement that sees the next resistance at 1.5300 area. Next week I’ll look for short trading signals on this area in line with the weekly chart still showing a short tendency.
The currency pair Usd/Jpy is consolidating in the last period above 94.50 and under the support area at 96.50 resistance. Next week, if the market were to break down the support area we could see a sharp bearish move that sees the first support zone at 92.00. From here a long trading signal would be a good entry point for a medium-term trading strategy especially for those who, like me, loves swing trading and nice risk:reward profiles!
It’s all for today!
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