Good evening, time for weekly analysis and starting from this week, MTC will share analysis weekly and traders may also share your opinion at our Facebook page or comment at the website.
Would like to do some recap on our previous post before we proceed to the latest weekly analysis.
AUDNZD – We were waiting at the highlighted area for short position. However, price move lower and did not trigger the price alert we have set.
USDSGD – We are still waiting for price to come to the significant support level for buying opportunity.
GBPUSD – Price spiked and resistance was broken with strong momentum after minutes of meeting indicated that rates were also likely to rise over the coming months. Bearish outlook has turned to bullish after the minutes of meeting. No short positions were triggered at the highlighted area.
Lets come back to the latest weekly analysis.
AUDCHF – Price rejected at the significant resistance level and we have entered short positions. The highlighted green area is the zone that we are targeting for our short positions. Patience needed when we are holding swing position.
NZDUSD – Price trading at resistance level and we are anticipating a breakout from this area before further downward momentum.
EURJPY – Price action shows some weakness at this area and we have enter small short position at 132.84. Reversal trading always carry higher risk compared to trend trading but reversal trading is also early entry for trend trading if trend reverse and it carries the bigger reward as well. The most important factor in trading is finding which trading style is suitable for you.
Tips : Set your price alert and avoid yourself being glued to the screen and make bad trading decision.
Happy Trading MTC Traders.