EURUSD – EURO VS US DOLLAR
Over the past four weeks Euro-Dollar has been unable to trade above 1.2500, a level the pair plunged below on February 16th. During trading session last week, the pair made a rally above key level 1.2329, but could not be sustained above this level as price retraced back below before the close of the week.
AUDUSD – AUSTRALIAN DOLLAR VS US DOLLAR
Last week we saw the Aussid-Dollar recoil from its upward stretch to trade downwards as the pair failed to rally above key resistance zone 0.7876 – 0.7914. This calls for a bearish bias on Aussid-Dollar, and we will be looking to sell short this pair on retracement within the zone 0.7739 – 0.7778 on either the 4 hour or 1 hour chart. This change in momentum appears to be on a fresh start on the 4 hour chart.
tight for a pretty long ride.
AUDJPY – AUSTRALIAN DOLLAR VS JAPANESE YEN
The major directional bias of this pair is clearly down, and we shall be anticipating to sell strength upon retracement within the zone 82.010 – 82.484 and place a stop above the high of this zone.
XAUUSD – SPOT GOLD VS US DOLLAR
In view of this, we shall take a bearish stance on spot gold and anticipate to sell short within the zone 1316.11 – 1321.85 and place a stop anywhere above 1323.21, beyond which this trading plane will be rendered invalid.
Author: E.O.Essien
E.O Essien is an Associate Financial Economist, author, currency trader, and a private trading coach. He can be contacted via email at elijahotoo.eo@gmail.com or on +233203656160, +233240080104