WEEKLY FOREX TRADING ANALYSIS

Hello Naked Traders.

Here below you can read my usual price action anaysis for the week ahead.

Eur/Usd

Eur/Usd pushed strongly to the upside on Thursday and Friday. Just Friday, the price broke the 1.3400 resistance area by closing the week above it and going to test the key level post just below 1.3500. If this market should retrace back this week I will look for a price action  signal  at 1.3400 area.

 

Gbp/Usd

Gbp/Usd is very close to the key support at 1.5700 area. The price shows no obvious signals  that may indicate an entry for some good long trades. The thing to do is wait patiently for a long price action naked signal on these areas or a short price action naked  signal if the price were to make a brief pullback upwards and show us some short opportunities.

Silver – Xag/Usd

The spot Silver market has moved decidedly to the downside in recent days after testing a major key level at $ 32.50 area. Next week we could  see a continuation of the bearish move that has two support zones placed at $ 31.00 and $ 30.00. If the market will move around these areas we can look for a long price action naked signal.

 

It’s all for today!

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