In this week's market analysis, we will look at potential trading opportunities and zones where we should look for price action, evidence and potential moves.
Pairs and markets analyzed this week: EUR/USD, NZD/USD, USD/CAD, Crude oil, XAG/USD, XAU/USD
EUR/USD pinbar price action at resistance zone
EUR/USD pinbar price action at resistance zone 1.113-1.118; potential move to the downside from this zone.
Target: 1.086 for a 2.8 ROI
NZD/USD reached our target for a nice 3.51 ROI
As mentioned 2 weeks ago we went long on a nice price action setup (pinbar) and were aiming for a 0.728 target and a nice return on investment of 3.51.
USD/CAD approaching support for a nice 3.13 ROI
USD/CAD is approaching our 1.288 target for a nice 3.13 ROI. The 1.281-1.288 area is a strong support zone.
Crude oil at resistance; watch out for bearish price action
Crude oil is at resistance. Watch out for bearish price action (bearish evidence) and a potential move to the downside from this major zone.
XAG/USD approaching support
XAG/USD price is approaching support zone 19.18-19.40. Watch out for bullish evidence and a potential move to the upside from this major zone (with a 20.57 target).
XAU/USD testing support
Gold's price is at support zone 1328.9-1336.3. Watch out for bullish evidence (significant price action) and a potential move to the upside from this major zone.
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