Forex Analysis Video with Future Predictions AUDUSD and GBPJPY Week March 13th
Looking at GBPJPY on the weekly chart here you can see that price has really rallied out of the 125 demand zone and it’s been coming up here for the past few months and now it’s kind of gotten itself into somewhat of a wedge. This is a common price action pattern that we are looking at here and therefore we are looking to see price rally long term into the 159.81 supply zone.
If you want to learn more about this pattern you can check out our Price Action School on our website.
On the daily time frame, you can see again the same type of wedge pattern. Price bounced really nicely off the demand zone at 136.76-134.99 and I’m looking for that pop to break last year’s high at 147.00
Looking at the 4 Hour time frame you can see that prices again is really tightly ranged it’s found support here at 139:14 and it looks like we could be breaking that wedge here in the next week so I’m really excited about this one and see if we can’t break $147 last year’s high.
On the AUDUSD this week, I’m looking at Price continuing to fall here down to the .7292 demands own and as it falls and I think it’s really given a good confirmation that price will continue to fall down here and as it falls this week. I’m thinking that price can slice through the demand zone as it is weak and land down at the .6985 demand zone as well but again nothing has told us that the trend to the downside over all is done with we are in the middle of a big weekly range and at the extreme of the big weekly range up here at this chocolate supply zone from .7686-.7848.
Looking at the daily time frame you can see that price is retesting the daily demand level from .7518 – .7458 now this is a good retracement to possible rally to the upside. However, I believe this level is weak as price has beating the weekly demand zone and I think it can beat this daily support level as well and we could continue to fall down to weekly demand.
If you are unfamiliar with any of these ideas please feel free to check out our community members trade plans and so much more on our website.