The markets have been falling for quite some time now and price has been heading towards demand on a number of pairs. A couple of Aussie pairs are showing opportunities as well as EURUSD and NZDUSD.
AUDJPY – Long
AJ is heading towards a demand level which has already been touched once. I will normally trade from SD levels up to the second touch provided there is opportunity so if price bounces from this level, I’ll be looking for an entry.
AUDUSD – Long
AU is also heading towards demand and is just over 50 pips away so we could easily see price fall down into the level this week. The arrival looks good so far with pure red candles so if that continues we’ll be looking for a reversal on this one too.
EURAUD – Short
EA did fall last week and still has room to the downside. The profit potential looks good so we could have further shorts.
EURUSD – Long
EU was not yet ready to bounce and has continued on to hit another demand level lower down. I’ll be watching once again for long confirmation on the lower time frames. We haven’t had it yet so there have been no longs.
NZDUSD – Long
NU is the last pair on the list which is also at demand. If I see confirmation then I’ll be looking for longs.
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