EURUSD: BULLISH

Current Level: 1.1115

Target: 1.1300

Timeframe: This week

SET UP

EURUSD made hard work of clearing the 1.1030 level but now it’s done so I think we’ll see it start to move more aggressively to the topside.

Support now lies at 1.1090/1.1065 (1.1020 max) to yield rally above 1.1145 resistance onto the 1.1180 level (en route to the mid 1.1200’s).

RESULT 

Target Attained. The EURUSD target of 1.1300 was hit within 3 days and the high was 1.1383.

GBPUSD: BULLISH

Current Level: 1.2400

Target: 1.2600

Timeframe: 1 – 2 weeks

SET UP

Sterling is once again proving to be a hard currency to stay in the trade. But now it’s broken through 1.2350 it should be an easier ride to the topside.

Support now lies at 1.2315/1.2270 (1.2240 max) for a rally above 1.2360/2395 resistance onto 1.2460/1.2490.

RESULT 

Target Attained. Sterling outperformed my expectations with the 1.2600 Target hit within 2 days and it overshot the mark hitting a high of 1.2730 within 4 days.

AUDUSD: BULLISH

Current Level: 0.6665

Target: 0.6850

Timeframe: This week

SET UP

The AUDUSD doesn’t appear to be too perturbed by the current spat between the US and China as it easily rallies above 0.6700. The RBA Tuesday could be the catalyst for a quick move towards 0.6850.

Resistance today lies at .6680, with support at .6620 & .6610. A sustained break above .6720 resistance will give greater longevity to the AUD’s advance.

RESULT 

Target Attained. The Aussie outperformed my expectations with the 0.06850 Target hit within 2 days and it overshot the mark hitting a high of 0.7012 within 4 days.

NZDUSD: BULLISH

Current Level: 0.6250

Target: 0.6600

Timeframe: 1 – 2 weeks

SET UP

The NZDUSD looked to be running out of steam around 0.6230, but I have the feeling a continued slide lower by the USD will be enough to see the uptrend back in the swing.

Resistance lies at .6225/.6240 and needs to clear this to extend advance toward the .6300 level. Loss of .6175 support would trigger sell-off to .6150 and possibly even Key .6030 support.

RESULT 

On Track. The Kiwi had a weekly high of 0.6527 and is on track to hit my target of 0.6600 this coming week.

Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

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