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.
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)
AUDUSD – Sell
Moving averages in down trending order (20 < 50 < 200) Look to short at pullback into the downtrend
W1: MACD Cross below signal, price appears to have broken previous support, see if we can hold below
D1: H4: Price weakness at 50MA
USDCHF – Buy
Expecting pullback to the recent broken resistance area which should act as support as seen on the W1 chart
W1: Price returning to test support area.
D1: price at bottom of lower Bollinger Band.
H4: Doji on previous two sessions signifying indecision, lower price rejected at 200MA, price at bottom of lower Bollinger Band.
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