WEEKLY FOREX ANALYSIS | PRICE ACTION BLOG

Hello Price Action Naked Traders

Eur/Usd

Eur/Usd broke the support at 1.3000 area on Friday and ended the week slightly above it at 1.3020 area. The key 1.3000 level is very important so it’s better to keep monitored for the week ahead. In fact the pair could retrace back up to 1.3050/1.3130 area where you can look for short price action signals. The bearish break of 1.3000 would be very important beacaus price could continue the sell off until support at 1.2880. The next support is at 1.2650 area.

 

Eur/Jpy

Eur/Jpy opened last week with a strong bullish gap that has seen the closure of Monday session as a big black bearish candle that can offer short opportunity for the next week. Between 122.50 and 123.00 we could lookinf for price action selling signals, so I will wait for the currency pair to show confirmation of my short outlook in these areas. The first major support  are placed between 114.00 and 117.00 area, so we can have a great risk: reward scenario.

 

Nzd/Usd

Nzd/Usd broke the trading range between 0.8450 and 0.8300 who saw the couple bounced from the beginning of the year. The bearish breach has created an excellent trading opportunity on last Thursday evening through a clear short price action signal. In my trading forex signals service (as you can see below this analysis) I reported this possible good trading business with entry, target and stop loss. In fact I sold the kiwi on the dollar at 0.8280 area. The risk: reward  ratio  is very nice as the top supports are placed in the area between 0.8100 and 0.8170.

 

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