Weekly FX Market Analysis: June 13 - 17, 2016
Price Action Tracker | Jun 13, 2016 10:08AM ET
In this week's market analysis, we will look at potential trading opportunities and zones where we should look for evidence and potential moves.
Pairs and markets analyzed this week: AUD/USD, Crude oil, CHF/JPY, EUR/USD, EUR/NZD, Gold, GBP/CAD and Silver
AUD/USD: Price at deciding zone
AUD/USD price is at a zone; watch out for bullish evidence and a potential move to the upside from this zone. However, if the price goes through this zone, you can expect it to go as low as 0.72
Crude oil: Price action at major resistance
Crude oil just had a price action at resistance zone 49.2-50.7. Potential move to the downside from this zone.
CHF/JPY: Price action watch
CHF/JPY: Watch out for bearish price action near zone 112.7-112 and a potential move to the downside from this major zone. Strong downtrend.
EUR/USD: Still going short
As mentioned last week , we were waiting for a bearish evidence to go short, and this is what we did when we saw a night engulfing reversal candle on June 9th. For those who went short, you should watch out for bullish evidence and a potential move to the upside from major zone 1.116-1.110.
EUR/NZD: Testing a strong support zone
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EUR/NZD price is testing a strong support zone at 1.589-1.581. Watch out for bullish evidence and a potential move to the upside from this major zone.
Gold: Still long, but beware the zone
We are still going long, not selling yet. However, gold is approaching resistance zone 1303-1293. Watch out for bearish evidence and a potential move to the downside from this major zone.
GBP/CAD: Testing support zone, waiting for price action
GBP/CAD is testing a support zone 1.813-1.828. Watch out for bullish evidence and a potential move to the upside from this major zone.
Silver: Still going long, but approaching resistance zone
We are still going long, not selling yet. However, silver is approaching resistance zone 17.76-17.96. Watch out for bearish evidence and a potential move to the downside from this major zone.
Disclaimer: Views on the charts are not advice nor a recommendation; this is educational and general information only.
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