EURUSD – Looking to sell from resistance
Last week, the EURUSD strengthened modestly as it retraced up on the downtrend it is in. Our recent views on this market of looking to sell from resistance or value areas, has not changed. Traders can look for a price action signal to sell up near 1.1100 – 1.1200 resistance area on intraday or daily chart time frames.
GBPUSD - Sterling/dollar a potential buy from support
The GBPUSD continues to remain stronger than its peers and we are still bullish on this pair whilst its trading above the key support level down near 1.5330. We can look to buy on a daily chart signal near or slightly above 1.5330 this week.
AUDUSD - Aussie/dollar downtrend continues
We are still looking to join the downtrend in the AUDUSD by waiting for a price action sell signal from resistance levels. Traders can watch 0.7450 as well as the 8 and 21 day EMA (exponential moving average) layer for price action sell signals, as well as the key level up near 0.7590 if price makes it back up there in the coming days.
USDJPY - Dollar/yen remains buoyant
The uptrend in the USDJPY is intact and we are looking to buy in-line with it on a pullback to support. We can watch support down between 1.2200 1.2250 for intraday or daily chart buy signals this week to rejoin the uptrend from value.
Gold – Spot Gold looking weak
Gold continues to flounder near the lows of its recent sell-off. We are looking to sell this market on any strength this week,ideally up near 1130.00 – 1140.00 value (resistance area) on either a blind trade entry or price action signal.
Post by Nial Fuller, founder of learn to trade the market.com
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