Technical setups for the week ahead – November 6, 2017

After being away from the my charts for a while, I hope to be more active on a weekly basis. Here are the recent technical setups I’m watching.

Note: Taking inspiration from ForexLive analysis, I have decided to experiment with shorter, more concise point form based analysis.

EURUSD:

 

eurusd-1d
EURUSD 1-Day
  • 1.1667~ daily resistance price level currently holding up and expected to hold up for the week ahead
  • After a drastic sell-off early last week, prices have ranged signalling a lack of volume
  • Hourly price zone remains key area to watch for potential short entry
eurusd-1h
EURUSD 1-Hour
  • Given the amount of time this pair hovered in this zone, selling pressure may remain weak up until Monday
  • Price behavior during the upcoming London session becomes key time frame to watch

USDJPY:

 

usdjpy-1d

USDJPY 1-Day

usdjpy-1h
USDjPY 1-Hour
  • Perfect opportunity for buy entry on the retracement after the breakout provided this zone holds supported
  • Dollar rallies against yen as President Trump pushes towards freer reciprocal trade with Japan in attempts to reduce trade deficit

NZDUSD:

nzdusd-1d
NZDUSD 1-Day
  • Currently within ranges over on the daily timeframe
  • Good opportunity for scalp entries, see the hour chart below
nzdusd-1h
NZDUSD 1-Hour
  • Short entry opportunity imminent as doji bullish bars indicate lack of buying pressure
  • Take note of moving average cross-over indicating trend change to bearish outlook in-line with daily bearish timeframe

 

 

 

 

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