Forex Weekly Technical Outlook AUDCAD and EURUSD

Forex Weekly Technical Outlook

Forex Weekly Technical Outlook On $AUDCAD

image of audcad flagsThis weeks forex weekly technical outlook on AUDCAD, we see price ranging around from .99 up to 1.03.  As it’s ranging here.  I would be on the lookout for the test of the extremes of this range.  That is exactly where we find price this wee.  Price is retest the low of 1.00 and looking like we could be head back up.  Now on the Daily time frame we have the Elite software(neural network software ) saying the trend being up.  However on the weekly time frame, we have see price fail twice to break 1.04 So we find price at the top and ranging around here. This could be a continuation pattern and that what I’m seeing today and a good possibility for the rest of the week.  However, be aware of daily supply at 1.0305 up to 1.0414.  This zone however has been hit many times and should be weak if price can push up there and retest it again.  Bottom line: the Trend is up and price is at the bottom of the range for the past few weeks.

Forex Weekly Technical Outlook ON $EURUSD

image of eurusd flagsPrice is hovering just below the big daily supply zone of 1.10.  Over the past two weeks we have see price gap up and range around break up and now retest the low of that range. So as we are looking what what future price action could happen.   I’m seeing the strong winds to the upside prevail and for this to be potential a good area to buy at if you have not been paying attention to our Forecasts on EURUSD and are not already long.  If you are long then perhaps you can find this area as good area to average in according to your trade plan.  Check out this weekly video as we dive deeper into this topic.

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