In this week's market analysis, we will look at potential trading opportunities and zones where we should look for evidence and potential moves.
Pairs and markets analyzed this week: AUD/USD, Crude oil, CHF/JPY, EUR/USD, EUR/NZD, Gold, GBP/CAD and Silver
AUD/USD: Price at deciding zone
AUD/USD price is at a zone; watch out for bullish evidence and a potential move to the upside from this zone. However, if the price goes through this zone, you can expect it to go as low as 0.72
Crude oil: Price action at major resistance
Crude oil just had a price action at resistance zone 49.2-50.7. Potential move to the downside from this zone.
CHF/JPY: Price action watch
CHF/JPY: Watch out for bearish price action near zone 112.7-112 and a potential move to the downside from this major zone. Strong downtrend.
EUR/USD: Still going short
As mentioned last week, we were waiting for a bearish evidence to go short, and this is what we did when we saw a night engulfing reversal candle on June 9th. For those who went short, you should watch out for bullish evidence and a potential move to the upside from major zone 1.116-1.110.
EUR/NZD: Testing a strong support zone
EUR/NZD price is testing a strong support zone at 1.589-1.581. Watch out for bullish evidence and a potential move to the upside from this major zone.
Gold: Still long, but beware the zone
We are still going long, not selling yet. However, gold is approaching resistance zone 1303-1293. Watch out for bearish evidence and a potential move to the downside from this major zone.
GBP/CAD: Testing support zone, waiting for price action
GBP/CAD is testing a support zone 1.813-1.828. Watch out for bullish evidence and a potential move to the upside from this major zone.
Silver: Still going long, but approaching resistance zone
We are still going long, not selling yet. However, silver is approaching resistance zone 17.76-17.96. Watch out for bearish evidence and a potential move to the downside from this major zone.
Disclaimer: Views on the charts are not advice nor a recommendation; this is educational and general information only.