Weekly Analysis For AUDUSD, GBPNZD, USDCHF 07/10/2018
This article originally appeared on Bitcoin Trading Broker
Those are the key levels to look for positions for this week, I choose those pairs because they have the clearest chart and the greatest opportunity for positions.
AUDUSD – On the hourly chart, we can see the AUDUSD is after a long bearish momentum, usually After momentum like this I’ll prefer to wait for a reversal signal. If the price will break out the resistance Above it indicates the price tends to reach the supply above, in that case, I’ll look for P”A setup for buy Position, my target will be the supply above which is also a great supply of sell position.
GBPNZD – On the weekly chart, we can see that GBPNZD need more 50 pips to hit a very strong Supply, this supply has created in June 2016 and still valid, it is the first time the price back to this level Since he drops from there. I’ll sell at this supply soon, my first target will be the demand below and the Final target is the demand at the bottom.
USDCHF – As we can see, on the hourly chart, the USDCHF is after a great rally and just arrive in the Resistance zone that we can see on the 4H chart, I’m waiting for a reversal signal and if the price will break out the support below it’s a good signal for changing momentum, in that case, I’ll look for P”A Setup for sell position, my first target will be the demand below and the Final target is the demand at the Bottom.
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