Trading Zone

*Updated as of Friday’s close, 19 Jan 2018*

EURUSD:

EURUSD_Daily

The bias for EURUSD still remains up. The pair came slightly off the minor weekly level, 1.23295 and quickly saw a selldown. The price action is indicating a potential pullback for this pair, before making new highs.

Drawing the Fibonacci retracement on this current wave, we can see a confluence of the 50% retracement level with mid daily level, 1.20924. 

Price to watch: 1.20924

AUDUSD:

AUDUSD_Daily

AUDUSD tested the minor daily level and closes below it with a red candle body. This might be indicating a potential retracement in the following week.

If a retracement does happen, the next price to watch for would be the daily zone, 0.78966 – 0.78786 for a potential rebound back to the upside.

If the uptrend does continue, 0.80558 would be a key level for this pair

Price to watch: 0.78966, 0.80558

Legend:

Monthly Levels: Represented in Red

Weekly Levels: Represented in Blue

Daily Levels: Represented in Black

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