Weekly Price Action Setups & Trade Ideas | Oct 20-25

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Chris Capre’s current live open price action & ichimoku trades: AUDNZD, CORN, WTI, USDMXN

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USDCHF – Still Holding Major Resistance Zone (daily chart)

Price Action Context

Still holding the corrective structure since late May this year, the USDCHF has been stuck between 1.0018 and 9675. I’ll keep trading both sides of the market till it breaks.

usdchf corrective structure 2ndskiesforex

Trending Analysis

Stuck in a range but definitely don’t trade much inside the middle. Wait for the tops and bottoms for trade setups.

Key Support & Resistance Levels

R: 9960, 1.0018

S: 9708, 9650

Stay tuned to our members market commentary for updates.

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EURSEK – False Break Setup, Looking To Get Short (daily chart)

Price Action Context

After testing the key resistance level around 10.82 3x’s, the EURSEK forex pair created a false break of the resistance level by selling off 8 of the last 9 days, telling us the bulls couldn’t hold the new highs.

eursek false break setup 2ndskiesforex

Trending Analysis

ST bearish while below the false break level, MT bullish while above 10.48 on a weekly closing basis.

Key Support & Resistance Levels 

R: 10.82, 10.91

S: 10.60, 10.48

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Boeing (BA) – Grounded While Max 737 Issues & Investigation Ongoing (daily chart)

Price Action Context

Not being able to gain any traction since the tragic events around their 737 max planes, Boeing recently took another hit and I’m bearish on the stock right now.

Until we can clear 392 on a weekly closing basis, and as long as this investigation and negative details continue to come out around the company, I’m looking to sell on pullbacks towards 383 and 390, or a break of 317.75.

Watch the price action to start the week for ST direction.

Trending Analysis

MT neutral while ST bearish.

Key Support & Resistance Levels

R: 383, 392

S: 336, 317.50

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