Still holding the 350 pip range we talked about and traded in early November, this latest attempt is looking more aggressive with 6 out of the last 8 days closing bullish. Intra-day bears can watch for potential bear signals at 1.6255 targeting 1.6100 and the bottom of the range. Bulls meanwhile can look for a breakout pullback setup at 1.6255 with a 4hr close above. Still favoring the bull side until the bottom of the range folds.
AUDUSD – Activates Major HS Pattern
Selling off impulsively for the last 3 days and 300 pips, the Aussie has broken the neckline of a large HS pattern (head and shoulders) + key level at 9274. Although the HS pattern is suggesting a 500 pip drop, there is a crucial support level at 8895 which was a double bottom from August this year. I’ll look for a corrective pullback towards 9274 to get short and rejoin the bear trend. Downside targets will be 9054 and 8900.
Dow Jones – Another Up-Leg & ATH’s
After being held in the large channel for the last three months, the Dow Jones Index pulled back to the channel top, then launched higher and continues to make ATHs (all time highs). We will look to trade with the trend, either on a pullback towards 15900, or on a super weak corrective pullback towards the prior ceiling at 16015. Upside targets are 16100 and 16200 until we see weakness in the price action.
Original post
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Polski
- Português (Portugal)
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Weekly Price Action Setups & Key Levels
Published 11/25/2013, 03:02 AM
Updated 05/14/2017, 06:45 AM
Weekly Price Action Setups & Key Levels
GBPUSD – Range In Play…For Now
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.