Forex Analysis Video with Future Predictions AUDUSD and NZDUSD Week Feb 20th
Today we will be looking at the AUDUSD and and NZDUSD this week for our currency pairs.
On AUDUSD, price as been hitting and I believe will break the supply and resistance zone at .7848 as we continue to see a strong rally. This will be the 7th test of the weekly supply zone.
The market structure suggests that we will continue up through the .7847 as we could be seeing a new trend develop. However, this week I believe that this new trend is develop and we will see price close about the high of the supply zones on both the weekly/daily time frames. On the 60 min chart we see price has broken out of the a range it’s been in for the past 3 days and now we are seeing a flip-flop of resistance becoming support. Bottom line, if this up move continue on then we could easily see a 200 pip move move worth around $2000 per lot.
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On NZDUSD this week, we are seeing a retest of last years highs and we expect to see price continue up into those highs and higher as there is a nice uptrend developing. This week we are looking at a 160 pip move back up to the highs and only a 80 pip risk as price has found demand at .7145 daily demand zone. On the four hour time frame we can see price bounce off a confluence of zone around the .7135-.7117 demand zone area. Price has confirmed the bounce now we just need to see price continue on this coming week and give us a good push into the highs. Bottom line, price is at a good area (zone) for buy in the direction of the trend to the upside. Once it gets to the high, yes, it could reverse up there but our system relays on the “Trend” is your friend” and we need to put ourselves in areas to capitalize on good buying opportunities like this when they happen.