Weekly Price Action Setups & Key Levels | Jan 7 – 12
Chris Capre’s Active Price Action Trades: EURUSD, EURCHF, CHFJPY, TRP, REMX, FXo EURJPY
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AUDJPY – Testing Key Resistance, Will The Bull Run Continue? (Daily Chart)
On a tear lately, the AUDJPY has been in a NV-trend for the last several weeks, taking price back all the way up to the key resistance at 89.00.
Aggressive bears might find this to be an area of interest with minor supports coming in at 88.00 + 86.80. Meanwhile bulls would want to stand aside until a) price pulls back into a solid support level, or b) price creates a breakout to the upside.
In case of a bullish breakout above the resistance, 90.50 will come into focus.
Stay tuned to the members market commentary for updates.
XAUUSD – Key Resistance Level Cleared, Now What? (Daily Chart)
The ST reversal we mentioned in our member market commentary on Dec. 12th was the start of a very strong bullish move that cleared multiple resistance levels along the way, including the key resistance @ 1290-1300.
Pullbacks into this key support zone can IMO offer bulls with good opportunities. Watch 1350 for the upside.
Bulls failing to protect this key support zone + a daily close back below 1290 would put the 1266 support into focus.
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