Weekly Price Action Setups & Key Levels | Aug 16-21

audusd

EURUSD – Larger Range in Play, ST Bullish Bias Building (daily chart)
Climbing for 6 of the last 8 days, the Euro is in a large range between 1.0825 and 1.1435 with the lower boundary holding 3x now. ST the bias is slightly bullish in the face of such steady gains last week and a higher low put in just below 1.09.

If we take out the ST key resistance level at the 1.12 handle, I’m expecting a run up towards the range highs before sellers re-emerge. If however we get impulsive selling from here, then the range bottom and bids around there will be attacked.

AUDUSD – ST Building, But Bearish MT (daily chart)
After double tapping the yearly

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