Weekly Price Action Setups & Key Levels | Nov 12 - Nov 17

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Chris Capre’s Current Active Open Trades: USDCHF, EURCHF, CHFJPY, EURRUB, AUDCAD, FTS, TRP, REMX, FXo EURJPY, FXo EURPLN

ASX 200 – First Weekly Close Above 6000 Since January 2008 (Weekly chart)
After being confined within a tight LT range for 20+ weeks this year, the bulls emerged as winners from this battle as we had our first weekly close above this price level (since Jan. 2008).

If the price action stabilizes above this level, weak pullbacks can provide bulls potential with-trend trading opportunities, with next resistances waiting at 6150 and 6350 in extension.

If on the other hand we see a fast move back below the level we’re most likely looking at a false break.

Stay tuned for to the …

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