Welcome to weekly market overwiev, where we look for Price Action patterns and/or use Elliott Wave Theory.
EUR/USD
Pair broke below important support. It is quite likely, that such move will end the consolidation which has been seen since last six months. That may give opportunity to test previous low. Support re-test from below will be an occasion to open short position.
EUR/AUD
In the previous week currency pair was targeting important resistance zone – inside bar formed. Currently we look at pin bar candle, which was drawn due to false breakout. I am going to open buy limit transaction in the middle of current candle, counting on increases targeting the last high.
GBP/JPY
Here I hope for another leg up. In the higher bound of currency resistance zone I will look for short opportunities – the first target should be near the last low (175.00).
AUD/JPY
I think that pair will move once again inside resistance zone and after that decline more broadly. In the green zone we should look for proper bearish setup.
EUR/JPY
Pair found itself between S/R levels. We should wait with any decision and see how Price Action will behave in the next session. After breaking lower or higher we will look for trading opportunities following the main momentum.
