1. Abstract

This week seems to be very interesting because the price action is making changes because of the strong US DOLLAR.
So, is very important to have a watch list and follow it and today I will share it.
The information suggested here is not an investment advice and must check it before to take any trade decision.

2. Development

2.1 AUDUSD

This pair was loosing ground since March 20th who reach a price of 0.775 but at the moment has reach a zone around 0.75
The price at this level was touched by first time on March 8th and seems to be forming a resistance level.
I am waiting for a pattern formation about reversal or trend continuation to make a move.

If the price action can close below this zone, we could see a move lower around 0.73
But if don't a move like correction to the recent lower high to reach the 0.762 zone maybe is the second option.




2.2 BRENT

The recent issues on Siria was the boost to this commotidy and maybe could be around 58$ or more.
This began on March 23th when brent touched the 50$ and since that day was climbing till today around 56$.
A strong resistance is around 57.5$ and a close above this level could send prices even higher.

For now I am waiting for the market to make the first move to jump on it.
What I am looking for is a break out of a key level, this could be around of 57.5$
Or a pattern formation to get a correction.




2.3 EURO

I was short from 1.085 level but I did close the position on a consolidation area around 1.065.
But I believe that re enter will be fine for now.

If the US DOLLAR keep strong so the EURO will fall.
Today the EURO seems to be going to find support around the 1.05 level.
The first time this level was touched on February 20th.
If the price action can reach this zone, a nice buy opportinity will be till any restest around this level.

But just in case of a deep move lower, the last line of support will be the 1.04 level.



3. Conclusions.

  • Trade breakouts on strong support or resistance levels are more profitable that intraday setups.
  • The best is looking for reversal paterns or trend continuations but for that patienece is needed.
  • The less in quantity against the more in quality is the best.
Translate to English Show original