GBPUSD & AUDCAD Forex Analysis Video Week 28 May

GBPUSD & AUDCAD Analysis

On GBPUSD

GBPUSD this week, Price is at 1.3 supply zone on the weekly. This is a great area for price to continue back down and retest the lows at 1.22 weekly demand zone. This would be the first bounce off the weekly zone so it could hold very nicely in the direction of the Trend. This week I’m looking to see price down to 1.2800 daily demand zone before price move up and retests the high at 1.3 daily supply zone. Price could break 1.3 as it has tested this area several times. We should hopefully see a breakout of this tight range that price as been in for the past few weeks here.

On AUDCAD

AUDCAD this week, Price is retesting the all highs from last year to see if price wants to go any higher or not. Price has rejected to go higher twice now and so now I’m looking for price to do the opposite. However, we are in the range at the highs so now we need to see what price will do at the bottom of the daily/weekly range. I’m looking for price to continue down to .9692 daily demand zones. This week I think it may continue down there but it should take some time. So price will hopefully break the daily demand zone bottom at .9925 this week before slowing going down to .9692.

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