Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
Weekly Price Action Setups & Key Levels | Jun 11 – 16
My Current Active Open Trades: NZDJPY, EURNOK, EURPLN, USDMXN, CADMXN, XAUTHB, AX_UN, ANZ, BMO, CUF_UN, CSE, SBER, FXo EURJPY, FXo EURPLN
WTI Oil – Close to Key Support (Daily chart)
After two weeks of bearish price action, WTI Oil is closing in on a key support level @ 43.00 with only a minor support (45.00) standing in the way.
It is IMO more likely we’ll witness some profit taking from the bears if this level is reached soon, so we’re expecting a decent reaction from here.
If the key support holds, the first point of attack will be 45.00 & 47.00. However, a failure of the level would open up for further technical selling towards 40.00.
EUR/GBP – At Major Resistance (Daily chart)
Having the major resistance level at 88.50 on our radar since mid-March, price has now arrived at the level and we witnessed a strong reaction from it during Friday last week.
The coming week will show if there will be a follow through by the bears on this rejection or not.
If the answer is yes, the first support that would likely be attacked by the sellers is 86.50/86.75, followed by 85.00. If we however get a daily close above 89.00, we will most likely see a move towards 90.00.
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