Forex Weekly Outlook June 16 – 20

Forex Weekly Outlook for AUDUSD, EURUSD, GBPUSD,  USDJPY, USDCAD forex pairs (Price Action)

Colors for Support, Resistance, Trend Lines: MonthlyWeeklyDaily

AUDUSD

audusdmonthly

Monthly Commentary: Price is inside the white pinbar, this month we need to see where price can go.

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audusdweekly

 

Weekly Commentary:  Blue weekly trend line was broken; not clear direction.

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audusddaily

Daily Commentary: Price is going up, next week we could see that price will hit red resistance. It is key resistance, watch daily price action here.

EURUSD

eurusdmonthly

Monthly Commentary: Price is inside the channel, borders are respected.

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eurusdweekly

Weekly Commentary:  Price is going down from weekly resistance.

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eurusddaily

Daily Commentary: Who was reading our weekly outlook from last week knows that we were searching for sell opportunities. On Monday price did not went higher above blue weekly resistance. Everybody who was selling and closed 80% or 100% of position before price will hit red support is in profit.

 

GBPUSD

gbpusdmonthly

Monthly Commentary:  Price is between monthly support and resistance.

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gbpusdweekly

Weekly Commentary:  This week price went up; we will see if it hit monthly resistance.

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gbpusddaily

Daily Commentary: After small move down and retrace back, price accelerated up. Now it is near daily resistance but yet it was not hit and did not create higher high. Ideal retest it is breakout and daily close of candle.

 

USDJPY

usdjpymonthly

Monthly Commentary: Price is inside the channel, borders are respected.

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usdjpyweekly

Weekly Commentary:  Not clear, price is in area where weekly trend line is. We need to see lower time frame.

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usdjpydaily

Daily Commentary:  Price did not go up. It creates kind of range and price is in the middle of range, not ideal for entry in this moment.

 

USDCAD

usdcadmonthly

Monthly Commentary: After breakout price is back on support.

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usdcadweekly

Weekly Commentary:  There are clear weekly levels for support and trend line. We are testing monthly support too.

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usdcaddaily

Daily Commentary:  Price is in range, but this week there was sell opportunity from red daily resistance with close 80% of position on monthly support.

 

See other weekly analysis in category “Forex Weekly outlook” of our website
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