Forex Analysis Video with Future Predictions NZDUSD and USDJPY Week April 10th
This week we will be looking at a couple NZDUSD and USDJPY forex pair for our weekly swing trade forecast.
On NZDUSD, The weekly perspective is telling us down and ranging. I agree with that. And I’m thinking that price could definitely be headed to the bottom weekly demand zones at .6749. On the daily perspective. We are presented with an opportunity for a counter trend trade at the daily and four hour demand zone of .6944 down to .6885. This counter trend may seem really tempting but the trend is down for now. So personally I would rather run with a trend follow then a counter trend trade. Bottom line is price on the bottom of bing daily range that it has been in for the past few months and price is a decision point as to rather or not we are going to stick the bottom of the range or not. My thoughts are we will see price move lower.
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On USDJPY, On the big weekly perspective we have seen price move all the way to $118 and fail to break weekly supply now we find price in the middle of the big move that it made at the end of last year. Price is hovering just above the 50 percent line which is at $109 and I believe that this week we could see price dive down to the 50% line and retest the daily demand zone at $109.75-108.55. If this does happen this week it might also cause enough divergence long term to see price go back up to the weekly supply zone at $118. However, this coming week I think price is going to continue down at hit $109 before we see any strong moves to the upside.
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