All weekly 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.
Top Left=M1
Top Right=W1
Bottom Left =D1
Bottom Right =H4
NZDUSD – Sell (Await confirmation)
Bearish sentiment short term however I see that on the monthly chart price is at the upward trending support line since around 2009. The doji signifies imbalance of the force of the downtrend so we may see a bounce to the upside. Descending into the weekly and daily charts, we see the initiation of what could be a start of a bearish move towards the 0.65000 level. I would wait until I see obvious entry signals before triggering a position as well as paying attention to money management techniques.
CHFJPY – Sell
The CHFJPY shows a shooting start candle pattern at the resistance level around the 118.00 area which has been tested two times prior. We can see this clearly in the weekly chart. The H4 TF shows a bearish crossover of the 20 below the 50 moving averages, I would look for a retest of the highs before attempting an entry to the downside..
AUDCHF – Buy
The AUDCHF pair shows us a bullish candle on the monthly and as we look over to the weekly we see a morning star candle pattern already formed and starting the price move towards the upside. There may be a retest to the 0.700 area so I would wait until the next couple of sessions on the lower TFs to get an idea of where the market moves.
AUDCAD – Sell
The AUDCAD pair appears to be at support on the monthly chart so we could see a bounce to the upside or a break downward. If there is a break to the downside below the current price level, I would look to initiate a short position using the support line as new resistance. If there was a bounce, I would wait for confirmation by way of bullish patterns. The daily and H4 charts show negative movement which could be a good opportunity to jump in to the downside bearing in mind the aforementioned.
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