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)
USDJPY
- Bullish engulfing (well, opened a few pips above previous close)
- Confirming JULY Support
- Oversold on RSI
AUDUSD
- Support confirmed at least twice
- Oversold on RSI
- morning star pattern (Small white candle followed by longer bullish candle after down trend)
AUDJPY
- Descending trend-line touching three times since MAR 2018
- Oversold on RSI
- Bullish engulfing pattern
EURJPY
- Support confirmed twice prior on ascending trend-line
- Bullish engulfing (well, opened a few pips above previous close)
AUDCHF
- Support confirmed on ascending trend-line
- Bullish engulfing (well, opened a few pips above previous close)
- Oversold on RSI
GBPJPY
- Bullish engulfing (well, opened a few pips above previous close)
- Support confirmed on horizontal trend-line
NZDUSD
- Horizontal support confirmed (old resistance = new Support)
- Ascending trend-line confirmed
- Two doji after down trend
