After last weeks NFP results were positive and price action looked good to support the fundamentals I was thinking longs for USD. Of course this was not the case as we had new fundamentals break that stated issues between North Korea and the USA. Important to stay flexible and keep up with news as things can change quickly and the bear trend continued, infact it actually picked up after breaking the major support.
So here are my new zones and ideas for this coming week. I have plotted my major zones as seen, I think price could stay within these zones for a period of consolidation before it finds new direction. The support zone is a major one and if broken we could see price start to fall a lot more throughout the rest of the year. However there is still a lot of news this week including FOMC statements midweek. So should be an interesting week nonetheless.
So here are my new zones and ideas for this coming week. I have plotted my major zones as seen, I think price could stay within these zones for a period of consolidation before it finds new direction. The support zone is a major one and if broken we could see price start to fall a lot more throughout the rest of the year. However there is still a lot of news this week including FOMC statements midweek. So should be an interesting week nonetheless.
Comment:
Zone to zone. Supply zone could've been plotted more accurately, should be from the tops/bottoms of candles rather than the bodies.
