WEEKLY FOREX OUTLOOK | PRICE ACTION TRADING

Hello Naked Traders.

Here below my price action naked analysis for the week ahead:

Eur/Gbp

The couple was protagonist of a strong rally in recent weeks.  Now the price is right on a resistance level. You can then wait for a clear and obvious price action naked signal between 0.8100 0.8150 for some short entries  on the pair. If the market keep going with a bullish bias the next resistance level is 0.8240.

Eur/Usd

The pair,  after hitting the support area at 1.2650, rebounded strongly and closed the week above 1.2950. There may be all the details to see the eur/usd back on previous highs at 1.3100 area. You can wait to see if the pair were to retrace and look for a price action signal to go long between 1.2820 and 1.2850.

 

Usd/Cad

The pair is well set for another new low. Broken down the 0.9950 area and closed the  week at 0.9925 going to offer us the possibility for a trade set up for the week ahead. In fact I’ll wait for an obvious short signal  0.9960 area. The first support level  is at 0.9870.

Gold – Xau/Usd

The price of the Gold has broken up the key resistance area at $ 1.736.00. From here we have to figure out if the breakout is confirmed and, if it were, look for a clear price action signal on this area,  $ 1.736.00. As you can see on the daily chart this key area is very important and can be therefore used to a simple and profitable trading. The next key resistance area is $ 1.790.00.

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