As I study the charts in preparation for the week of 14 June, the fact that the last week was good for the USD and the DXY has formed a base at around 89.65 is at the back of my mind.
However, some pairs like AUDUSD, GBPUSD and USDCHF hint at upcoming USD weakness. NZDUSD is at a significant level too and could well turn to the upside as well. I am particularly drawn to AUDUSD and AUDJPY as pairs to consider for trading to the up side.
You can see below my H4 charts. Both are still bullish (higher t/f context), they have of recent been trading within a range and are at the bottom of the range thus providing potentially good R/R trading opportunities.
I like these trades because I can place my stop below a major S/R zone – this adds a layer of additional security.
I recommend you take a look at these charts and decide which one (or two) resonate with you. DO NOT overexpose yourself to any currency as anything can happen in the markets at any time. As always, watching the price action on a lower time frame before committing to a trade is advisable.
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