Weekly Price Action Setups & Trade Ideas | Feb 18 – Feb 23

Verified Profitable Trader

Chris Capre’s Current Live Price Action Trades: CHFJPY, EURUSD, USDJPY, FXo EURJPY, BIR

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AUDJPY – Strong Attack On LT S/R Zone (Daily chart)
After 3 weeks of heavy selling, the AUDJPY has arrived at a LT support zone (83.90-84.50) which is at the bottom of the corrective structure.

Price is looking very heavy right now, but if bulls step back in and successfully defend this zone, I think we’ll see a move back up towards 85.70. If price clears this zone on the other hand, a move down towards the LT key support @ 81.80 is very likely IMO which could open up for potential shorting opportunities on weak pullbacks into the zone.

Keep up with the members daily market commentary for updates

audjpy technical analysis 2ndskiesforex

XRPUSD {Ripple} – Attempting To Break Out To The Upside (4h chart)
Over the last days, a ST pre-breakout structure has been forming as bulls have continued to push price towards the ST resistance @ 1.15. A successful breakout + follow through would most likely take price up to the minor resistance at 1.40 and if that resistance also folds, the MT key resistance zone @ 1.61-1.78 would be next in line.

A false break or failure of the PBO structure on the other hand should put the key support @ 0.65 back into focus.

Keep an eye on the member daily trade ideas for updates.

ripple technical analysis 2ndskiesforex

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