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)
NEWS
Wed Jan 23
Tentative JPY BOJ Outlook Report
Tentative JPY Monetary Policy Statement
Tentative BOJ Press Conference
Thu Jan 24
0:30 AUD Employment Change
0:30 AUD Unemployment Rate
NZDUSD – Sell
DY: Price still indicating downward move
H4: Price reacting bearishly to 50MA as resistance level
H4: 20 MA crossing under 50 and 200MA
AUDNZD – Buy
WK: Bullish continuation,
WK: Price breaks above ascending trend-line since AUG 2016
DY: 20MA as support after breaking early JAN (old resistance, new support)
H4: Price in range expecting upward break once 20MA reaches
H4: Price above 20,50,200MA order, view as upward trend
NZDJPY – Buy
WK: Bullish engulfing pattern, followed by doji signifying some indecision however does not appear at any support or resistance zones
DY: MACD bullish cross over
AUDJPY – Sell
WK: Price didn’t break above the marked resistance area.
WK: rice below 20,50,200MA order, view as down trend
DY: Doji at short term resistance area
H4: Cloud cover pattern, Doji, shooting star,
H4: Price at top of BB
H1: Price below 20MA signifying potential to move down
USDJPY – Buy
WK: Doji, Bullish engulfing, Morning star
WK: Price at bottom of BB
DY: Price breaks short term resistance
DY: Price moves above 20MA
H1: Price reacting to 20MA as support
XAGUSD – Sell
WK: Dark cloud pattern
WK: Pattern at top of BB signifying over bought
WK: Price at 50% Fibonacci retracement area
DY: MACD cross under
DY: Price closed under 20MA
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