Weekly Price Action Setups & Key Levels | Sep 18 – 23
My current active open trades: NZDUSD, EURUSD, XAUUSD, AUDUSD (option) & SBER
Gold – Key Structural Support Holding, For Now (daily chart)
Also parked just above a key support zone, Gold has only mounted one bull close in the last 8, hence some impulsive price action selling. The 1300 – 1310 is a key structural support dating back to early June.
If this zone holds, then we’ll likely see another attack on 1350, however if it fails along with 1275, then expect some further unwinding towards 1200.
NZDUSD – False Break Setup in Play (daily chart)
Failing to hold above the key 7312 resistance level, the Kiwi has formed a false break setup in the process. If 7312 holds for the bears, then we’ll likely see an attack towards 7100 and 7000 towards the bottom of the most recent bull run.
If however 7312 fails to hold the bulls, then we’ll have a BOPB setup which should put pressure on 7450.
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