WEEKLY FOREX OUTLOOK | PRICE ACTION FOREX

Hello everybody.

Here i come with the usual weekly trading outlook:

Aud/Jpy

The couple arrived, after a strong bullish rally, touching the key resistance area at 83.50. Here, by making a false break-bull trap- drove strongly down by closing the friday session with a short price action signal. The trend, in the short term, is long. There could be a short turnaround that has as its first support the 82.20 area. I prefer in any case work in the direction of the trend, as you know, so I look forward to see the price in the support area if it will go there. From there, if price will shows me a price signal of my trading method  would be a good trading opportunity.

 

Eur/Usd

The couple, on Friday, was sold strongly especially after the release of good data on u.s. unemployment. The price is arrived at key area at 1.2820, viewed here on the blog. Now what to do? The best thing is to wait and see what will happen in the coming days. If the level was broken in practice would open the doors for a fall until at least 1.2650. But now it is early to tell something accurate. I look forward to the next few days to take position on this pair.

 

Usd/Jpy

Very strong bullish rally of the last few weeks on this pair. Broken the resistance at 79.00 price pushed strongly up seemed almost doped. Trend is your friend in trading the market, you know? S0… i would look for a good buy signal the week ahead. The first optimal area where price can shows me something intersting is between 80.00 and 80.30.

 

Eur/Gbp

The couple in the last two trading weeks lost what it had gained since the beginning of October. Last week price showed us a good price action signal. This is because there were several price confluences  for going short on the pair.  The downside started the October 22 can continue in the next days. The first two levels where price could do a little bounce are 0.7890 and 0.7950.

 

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