Weekly Price Action Setups & Key Levels | Oct 2-7

gold forex price action analysis 2ndskiesforex

My current active open positions: NZDUSD, Silver, AUDUSD (option) and SBer

AUD/CHF – Closing in on strong LLT

This pair has been in a long term corrective structure and is now again closing in on a major resistance zone between 0.7550 and 0.7600 that has been tested multiple times since the end of last year. Each test of the zone has so far resulted in 300+ pips sell offs.

Even though we see a build up towards the resistance zone, for now I am still maintaining a bearish bias because the zone has held for so long. Further build up and a continued squeeze towards the zone on the other hand could indicate a possible pre-breakout setup forming.

If the …

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