FOREX - My weekly trade analysis for major currency pairs of upcoming week 10-21 Oct 16

1.1K followers

Updated 7 years ago

EURUSD - This past week saw a gradual drop in price with Friday having the biggest drop and breaking a strong support level. Watch for Monday morning to have a continued drop in price, but begin to pick up back up starting either Monday afternoon or Tuesday morning. This week looks like the bulls will be in charge.

EURUSD - Bullish

GBPUSD - At the beginning of the week we had a bullish shark pattern formed and we saw the beginning of an uptrend. The week prior saw a huge drop in price but is slowly starting to pickup now. Look for this week to be a gradual increase in price as the GBP tries to recover from hard economic news.

GBPUSD - Bullish

USDCHF - This past week saw a steady climb in price with a beautiful bearish gartley pattern forming on Thursday. The price did drop on Thursday but picked back up on Friday. Despite the sharp reversal on Friday, the price has indeed hit a strong level of resistance and will go back down.

USDCHF - Bearish

USDJPY - The USDJPY currency formed a similar bearish gartley pattern on Thursday and shot back up on Friday. Expect this pair to have a nice steady drop this coming week.

USDJPY - Bearish

USDCAD - This past week was a confusing week with a bunch of highs and lows. Friday saw a nice drop in price while hitting a weak level of support. I expect there to be a continued drop in price, but with the fights between the bulls and bears this past week, I cannot tell if there will be another climb in price again.

USDCAD - Neutral

AUDUSD - This past week saw a gradual drop in price with Thursday hitting a strong level of support and beginning to go back up. The price still has not hit any level of resistance. Watch for a continued climb in price with a level of resistance being hit around Wednesday. I would not expect any major gains or losses.

AUDUSD - Neutral

If you have any questions, comments or opinions regarding my weekly trade analysis, comment down below! Don't forget to leave a LIKE too with much appreciation!