AJ & CJ Hit Supply, EG Heads Lower

Both AJ & CJ hit supply level last week so both are at key levels. I'm sure we'll see a reaction this week.

AUDJPY - Long/Short

Price is at the key supply level now I'll definitely be watching this one this week. A reversal would send it lower, but I can't rule out this pair going higher on an engulf.

2016-12-11-aj-short-d1

 

CADJPY - Long/Short

CJ has had a strong move into this level so I'll be watching. Above this supply there is a clear run of red daily candles, so if price does engulf the supply, we could see a higher.

 

2016-12-11-cj-short-d1

 

EURGBP - Short

EG had a bounce from demand last week but didn't manage to rally too much before falling. I'm still monitoring this one to see what happens.So after the GJ engulf of supply, the pair still looks bullish as it continued to rally last week. The next supply level is a good way off so we could definitely have a runner.

Price could try to get higher again or there could be shorts on an engulf of the demand.

2016-12-11-eg-short-d1

 

Video

Like what you see? Share it here:

Premium Analysis

For this weeks Premium Analysis Video members can click here

Recent Posts

Aussie on The Rise

By Joe Wright | December 8, 2019

AU Falls From Key Resistance

By Joe Wright | November 17, 2019

NU Falls

By Joe Wright | November 10, 2019

Supply Holds On the Pound

By Joe Wright | October 27, 2019

AU Push From Demand

By Joe Wright | October 20, 2019

Leave a Comment





Want to improve your trading? | Download your free Traders Checklist

x

Learn To Read The Market

Your guide to consistent trading profits:
  • Identify high quality setups
  • Learn to read price action
  • Trade with confidence
x