All weekly Forex analysis are high-level and sets the week ahead. However markets change due to news and events so this may evolve. I do Monthly, weekly and daily scans every week for context. Higher TF help to guide the lower so as to give an indication or hint as to the direction of the market and potential entry points. I try to focus on price action and use indicators secondarily for probability of reversals or change in market sentiment.
Charts shown do not necessarily mean that I will be entering them, however I will observe for potential opportunities as they’re either a setup being played or about to be played. All thoughts welcome for purpose of self improvement!
20 SMA = RED
50 SMA = ORANGE
200 SMA = YELLOW
Bollinger Bands = PURPLE
MACD (prefer to use in non trending market)
RSI (prefer to use in non trending market)
EURGBP
• WK resistance (AUG 2018, DEC 2018) shown by long upper shadows rejecting higher level
• WK Bearish candle
• DY Break below 20MA and below horizontal support level
USDCAD
• WK Price at resistance area
• WK Bearish engulfing pattern (evening star pattern)
• WK Oversold on RSI
• DY Break below 20MA
• DY Oversold on RSI
• DY Bearish crossover on MACD
AUDUSD
• WK Divergence on RSI
• WK Bullish engulfing candle (morning star pattern) at support level despite flash crash
• DY Break above descending trend line after flash crash
• DY Oversold on RSI
• DY bullish engulfing pattern passing a number of doji patterns over the past week
AUDCHF
• WK Price did not close below support
• WK Divergence on RSI
• WK Bullish engulfing candle at support level
• DY bullish engulfing pattern at support level passing a number of doji
• DY Oversold on RSI
NZDJPY
• Price did not close below support level
• WK Divergence on RSI
• DY Bullish engulfing at support area
• DY Oversold on RSI
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