Weekly Price Action Setups & Key Levels | Nov 27 – Dec 2
My current active open positions: CHFJPY, AUDNZD, AUDUSD (+ 5 pending orders).
AUDNZD – ST Structural Base Holding, For Now (daily chart)
After a few probes in the last two months, the AUDNZD has held the ST structural base around 1.04 and now heading towards the structural resistance around 1.0750.
To me this structure dominates the price action so we have to be trading both sides considering the range in play here.
For now I’ll keep playing the range with the belief the all time lows in Sept last year will hold. If the pair can clear out the resistance in the mid 1.07 handle, there becomes upside scope for a potential move towards 1.1281 which is the high from last year.
CHFJPY – Building With JPY Weakness (daily chart)
Gaining 9 of the last 12 days, the CHFJPY has been on a tear (like all JPY pairs lately), gaining almost +300 pips. This bull run is for realz (IMO) so am looking to buy on a pullback with support near 110 and 108.84. Shoot I’m keeping a bullish bias while above 106 on a daily closing basis.
Upside targets would be 112.36 and 115+.
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