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.
As per our disclaimer – This is not financial advice but for educational purpose only
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)
NZDUSD – Bullish
W: Hammer at end of down trend
D: Bullish engulfing pattern followed by bull candle
D: MACD positive histogram divergence
D: MACD bullish line crossover
D: RSI positive divergence
D: Reversal at bottom of Bollinger Band
EURAUD – Bearish
W: Doji inside prior week candle
W: Price at top of Bollinger
D: Price reacting to descending trend line
D: look for repeat reversal at MACD crossovers, as shown at previous highs
D: Look for repeat reversal at RSI oversold areas as shown at previous highs
GBPCAD – Bullish
W: Hammer at bottom of Bollinger Band after down trend
D: Price reacting to ascending trend line as support
D: Hammer at support
D: RSI at oversold area
AUDUSD – Bullish
D: Price rejecting lower level at bottom of Bollinger Band
D: RSI indicating price in oversold condition
D: MACD positive histogram divergence
D: MACD bullish line crossover
H4: Positive divergence over last week
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