Weekly Price Action & Key Levels | Mar 2-7

EURUSD – Bullish but @ Key Resistance Zone
Gaining a mild amount of ground last week, the Euro closed the week on two strong days of buying. The pair is just below a key resistance zone which is likely to have sellers parked in there. I’ll look for a sell signal between 1.3890 and 1.3850-ish expecting offers to emerge. If this zone holds, then downside targets would be 1.3770 and 1.3700 short term. A daily close above 1.3900 would likely = and attack on the ‘big figure’ at 1.4000.

eurusd weekly market outlook and key levels mar 2nd

GBPUSD – Bulls Making Second Attack
Last week we discussed the corrective pullback on the GBPUSD likely translating into a second attack by the bulls after holding the line just below 1.6600. The bids stepped in and have since pushed the pair +100 pips higher. This trade setup was discussed in the members commentary and many traders have profited nicely from it.

The pair will complete the move if it can touch 1.6800 or 1.6820. Bears can look for sell signals at the yearly highs, while bulls will want a daily close above to see gains extend towards 1.7000. Only a daily close below 1.6580 negates our medium term bullish bias.

gbpusd corrective pullback bids holding price action 2ndskiesforex

NZDUSD – Pin Bar Sell Signal
Since September last year, the Kiwi has been stuck in a range between 8400 and 8050. The resistance has been tested now 5x, forming pin bar signals 3 of those 5. If the range holds, we could see a short term move down to 8300, with further downside available towards 8200 and potentially the range bottom at 8054. This trade was discussed in the members forum and bears not short can look to get short on weak intra-day pullbacks towards 8375 and 8400.

pin bar sell signal at resistance 2ndskiesforex

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Max Ahartz

    Wow,Chris, for the first time since I started, I have identified the PA signals at the levels your have!!! It is a good feeling!

    • Chris Capre

      @ Max – :-)))

  • George

    Do you teach how to do this analysis in your course or is it just a guide for those who have done your course to look for the rule based signals within the larger time frame structure. Presumably the wider analysis goes hand in hand with your rule based signals on lower time frames (unless you have rule based signals on the D1 of course, in which case would then look at weekly and monthly time frames? Thanks

    • Chris Capre

      Hello George,

      Yes, we teach the exact same models in the course, how to find these setups for yourself, and do the same analysis. We don’t just give the information on the models, we teach you the skills to use the information.

      We use a top down analysis approach, starting from the daily, and working our way down. The models and methods apply to any time frame, environment, or instrument.

      I do a daily market commentary for members as well using the same models and methods in the course.

      Hopefully this answers your questions.


      Kind Regards,
      Chris Capre