AUDUSD forecast - location - setup
Two possible scenarios for this week:
- Green arrow: Price tested an old and strong weekly support but USD is not strong enough to break it definetively; rebound up to channel line.
- Red arrow: support is no more valid; bear shooting star formed on friday and moving averages are going south. Enter below 0.71300 and keep open for...
USDJPY forecast - location - setup:
Green arrow scenario:
- Price inside a triangle, once it is broken in north direction the target is 114.800
Red arrow scenario:
- Price brake triangle down and target will be 108
EURUSD Forecast - location - setup
Chart ready for next week scenario and analysis:
1- Look at price action
2- If price breaks support 1 then the target is support 2
3- At support (1 or 2) price could bounce to resistance area
4- Out of resistance area, if price breaks through and close above (PBT&CA), BUY
5- At support level 2, if price breaks through and close...
If price close below highlighted area (PBT&CB), I will go short:
This area acted as a strong support three times: if price breaks it and close the day below, I will go short. Search for PA patterns in higher timeframes.