The Market Ranger - Weekly Price Analysis and Trade Set-ups (12-16 June 2017)

EURO vs US Dollar: Bullish Trend

Euro is still in a Bullish or uptrend market bias this week as it broke a Key Resistance or containment level at 1.1110. We can see a pull-back and that is what we will watch out this week for a good buying opportunity.

British Pound (GBP) vs US Dollar: Bullish Trend

The UK currency dropped last week due to the recent election made. We can speculate that price will be contained at 1.2564 level. With that we can wait for a price-action to form (Pin-Bar or Fakey Bar) at that level then we can enter the market Long. The next containment level (resistance@ 1.31315) is quite far so we can consider a good reward with this trend.

Australian Dollar 'Aussie' vs. US Dollar: Bearish

Here we can see two existing Key Levels that price may contain. We can see that Aussie is bearish in the long term but it may retrace at 0.76000 level. We can wait for a price action in that level and enter short.

New Zealand Dollar NZD vs. US Dollar: Bearish

Like Aussie, NZD is showing a Bearish direction in the Daily chart; spotting two Key Levels at 0.70513 ad its near term support level and 0.72353 near term resistance level. We will expect a containment at resistance level and wait for a price action to enter short in the market.

GOLD vs. US Dollar" Bullish Uptrend

Gold is still on its bullish market bias as it moved above support zone @ 1258.75. We can eye a resistance point at 1304.95. However, the best entry here is a pull back at support level and we can aim 3R since the next key level is quite far.

As we are strictly following a regime of 1 trade per week, we can choose the best among these 5 markets.

Have an awesome trading week!