WEEKLY FOREX ANALYSIS | PRICE ACTION TRADING

Hello Price Action Traders.

Eur/Usd

The pair has moved upward in recent days, continuing the consolidation phase between 1.3130 and 1.2960. For next week, the best thing to do is to wait for a price action short signal on daily resistance area that could offer a good risk-reward profile as the first support lies between 1.2960 and 1.2880.

 

Usd/Jpy

Usd/Jpy is in a strong uptrend for some months now. What should I do right now is wait for price action on key support areas at 94.50 & 92.00. In one of these two areas, if price will form a clear price action setups to enter long could be definitely a good trading opportunity.

 

Gbp/Nzd

The pair Gbp/Nzd is moving for some time between two lateral bands. The upper resistance is at 1.8400 and lower bracket positioned at 1.8000. On Friday, the price formed a clear price action setups that can be used to sell sterling and buy the equivalent in “kiwi” dollars. The false break is the trigger point that can be excellent for making a financial transaction with a nice risk:reward ratio.

 

It’s all for today!

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