dailypriceaction

Weekly Forex Forecast (October 9 – 13, 2017)

OANDA:EURUSD   Fx Euro/Dolar U.S
The EURUSD             lost ground for the second week in a row. This was the likely scenario given the September 25th close below long-term channel support near 1.1900.

Another probability that we discussed last week was that the 1.1670 area would attract bids if tested. It’s the August low and a level that served as a pivot between the 21st and 28th of July.

Friday’s low of 1.1669 followed by a 60 pip bounce is no coincidence. The 1.1670 handle did indeed attract buyers ahead of the weekend.

But despite Friday’s rebound, I don’t see this as a buying opportunity. While the single currency may claw back some of its recent losses, last month’s break of the six-month ascending channel was a significant development in my opinion.

The situation is similar to what happened with the AUDUSD             at 0.7820. I cautioned some to think twice about buying the October 3rd bullish pin bar due to the recent shift in momentum. We could see a similar outcome here.

But we’ll talk more about the Australian dollar             in a moment. As for the EURUSD             , I closed my short position on Friday just above the 1.1670 support level . My initial entry was a few pips above 1.2040 just before the completion of the September 8th bearish pin bar .

I’ll be interested in shorting the pair again should buyers take prices back to the 1.1840/75 area. Otherwise, a daily close below 1.1670 would pave the way for a trip toward 1.1490.

Source: http://bit.ly/2y4oHlA
Get Forex price action setups here: http://bit.ly/2y1e6GM

Weekly forecasts here: http://bit.ly/2f3n66Q

Free Webinar: 7 Secrets of Consistent Forex Profits: http://bit.ly/2y14zQ3
MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Laman Utama Pengimbas Saham Pengimbas Forex Pengimbas Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar