Price Action Watch: January 23rd - 27th, 2017
Price Action Tracker | Jan 23, 2017 05:37AM ET
In this week's market analysis, we will look at potential trading opportunities and zones where we should look for price action, evidence and potential moves.
Pairs and markets analyzed this week: EUR/AUD, GBPUSD and NZD/USD
EUR/AUD testing resistance area, watch for a pullback opportunity
EUR/AUD is testing resistance area (1.42077-1.42701), watch for a pullback opportunity. Look for a nice bearish price action and potential move to the downside from this zone (1st management point 1.40625).
GBP/USD approaching our 1st management point
As mentioned last week, GBP/USD was testing a support area and we wanted to go long. price moved up by over 200 pips (Theresa May's brexit speech had a lot to do with it).
Our 1st management point is still 1.265.
NZD/USD at resistance area, waiting for bearish price action
NZD/USD is testing resistance area (0.71912-0.72542) , waiting for bearish price action for a potential move to the downside from this zone
Disclaimer: This is educational and general information only (not advice or a recommendation).
Trading financial instruments, including Stocks, Futures, Forex or Options on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that your losses can exceed deposits and therefore you should not invest money you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts. Past performance, whether actual or hypothetical, is not necessarily indicative of future results. All depictions of trades whether by video or image are for illustrative purposes only and not a recommendation to buy or sell any particular financial instrument. See full Disclaimer .
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.