It has been a little while since I shared my analysis. The last few weeks have been busy, I was away on holiday in Belgium for a while, and I did not get a chance to post analysis. I am back now, and I won’t be on holiday again for a few months.
Before I start with today’s analysis, I want to make an important announcement…
… On Thursday the 28th of May, I will be holding a free one hour long webinar. The webinar will be different to any other webinar I have ever done. I am really excited about this webinar. I will send out more information via email tomorrow. Just make sure to keep Thursday May 28th at 14:00 GMT free if you can, the webinar will be worth it!
So, let’s look at some price action analysis for this week.
Key Support & Resistance Areas This Week
GBP/AUD: GBP/AUD is still my favorite pair to trade at the moment. My key support areas for GBP/AUD are the 1.9460, and the 1.9340. My key resistance areas are the 1.9630, and the 1.9780.
EUR/USD: Support and resistance is finally starting to clear up on EUR/USD. I know have some solid support and resistance for this pair. my key support areas for EUR/USD are the 1.1130, and the 1.0990. My key resistance areas are the 1.1270, and the 1.1350.
GBP/USD: GBP/USD has finally moved up a little. This has given us some new solid support and resistance areas. In fact, there was a daily short from one of the areas last Friday. I did not take the trade as I do not like trading Fridays, although, a few forum members took it. The fact that price bounce from the level so well on the daily chart indicates it is a good area of resistance. My key resistance areas for GBP/USD are the 1.5580, and the 1.5510. My support areas are the 1.4960, and the 1.5040.
USD/JPY: My key support areas for are the 119.70, and the 119.00. My key resistance areas are the 120.25, and the 120.90.
AUD/USD: My key support areas for AUD/USD are the 0.7990, and the 0.7910. My key resistance areas for AUD/USD are the 0.8070, and the 0.8150.
Questions
If you have any questions please ask below, I try to answer every question.