Charts to trade this week

Discussion in 'FreshForex Analysts Contest' started by Francmorio, Jan 12, 2020.

  1. Francmorio

    Francmorio Member

    EUR/USD Weekly Price Forecast – Euro Has Rough Week But Stabilizes
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    The Euro has initially tried to rally during the week but then broke down significantly to reach towards the 1.11 handle. Interestingly enough, it is the middle of the range that we have been in for some time now
     
  2. Francmorio

    Francmorio Member

    USDCAD
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    The Canadian dollar is trading sideways in Tuesday trade. Currently, USD/CAD is trading at 1.3232, down 0.04% on the day. On the fundamentals front, there are no major events, so I expect a quiet North American session for the pair. On Wednesday, the U.S. releases consumer inflation data and the Federal Reserve will set the benchmark rate.
     
  3. Francmorio

    Francmorio Member

    USDJPY
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    How does the outlook turn bullish? Reverse the bearish signals. Hold above 109.361, cross to the strong side of the Gann angle, and take out 109.688, 109.706, 109.728 and especially 109.930.
     
  4. Francmorio

    Francmorio Member

    AUDUSD
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    The Australian dollar has broken down a bit during the week, but more importantly it has bounced from the previous downtrend line. At this point, the market looks as if it is trying to turn around, but it’s a huge undertaking to clear the trend.
     
  5. Francmorio

    Francmorio Member

    NZDUSD
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    The NZD/USD closed at .6635 on Friday, putting it on the strong side of the downtrending Gann angle. This is a sign that the buying may be greater than the selling at current price levels.
     
  6. Francmorio

    Francmorio Member

    EURJPY
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    EUR/JPY has formed a bullish Adam and Adam 1-2-3 pattern and we should see a continuation move to the upside. The pattern looks very similar to W pattern but it is more V-shaped, with two double legged bottoms. (1 and 3). Above 121.45 the price will target 121.54, 121.99 with a potential towards 122.53. ATR projection is 122.03 so that could be the intraday target.
     

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