AUDJPY and AUDUSD weekly forecast for the week of Dec. 18th
This week’s video will concentrate on Two Australian Dollar Currency Pairs, AUDUSD and AUDJPY.
over the past few weeks we have seen this market has been in a downtrend. As it is in a new downtrend I believe price will continue to fall overall. However for this week, I would like to see how strong supply is. So I would like to see price move back up into the daily supply zone at $87.62 up to $88. Therefore, I would like to see price continue to move to the upside this week. As it does this I believe there will be some resistance around $87 but think that price will move up into the daily supply zone that is there already. If it doesn’t for some reason then that show that bears are truly in control and will likely continue to be able to make new lows in this market overall.
Price has been moving down and I believe that price is in a downtrend. Therefore, I would like to see that continue and am expecting price to move down from the daily supply zone (from .7648 up to .7731) we see price currently in now. I believe that price could come up to the 60min resistance zone and then bounce back down with trend. From a technical perspectivity, I believe that price will bounce off the strongest parts of resistance in this daily supply zone.
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