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EURUSD, GBPUSD, USDJPY, AUDUSD report for swing/day trades #1

New reporter Colonel Kink signing in first time today.

This is a simple support resistance analysis on week chart. To follow please use guidelines below.

Notes: Technical Analysis states that previous turning points offer future potential support resistance zones. 

  1. Attach a horizontal line at each turning point in the past 12 months on weekly chart. Go to line chart to see clearer picture.
  2. These lines leave a shadow.
  3. Shadows are not evenly dispersed but tend to be clustered. 
  4. When multiple shadows confluence in a tight range, there is a dark shadow which will provide strong support resistance.
  5. Look for dark shadow to offer next turning point.
  6. Price will move quickly through empty spaces or bright areas.

Please follow me or leave your comments on https://www.tradingview.com/u/colonelkink/.

 

Report for today on EURUSD, GBPUSD, USDJPY and AUDUSD

EURUSD

Analysis for swing traders: Current action is up-down-up so the next swing move is down. Look for short continuation at shadow. 3 shadows over head provide potential resistance. Shadow #1 has symmetry with left shoulder.

Analysis for day traders: Continue long with current white week candle. Overhead shadows potential TP.

EURUSD discussion here.

EURUSD weekly chart 01 by Colonel Kink Forex Reporter

EURUSD weekly chart 01 by Colonel Kink Forex Reporter

 

GBPUSD

Analysis for swing traders: Current action is up-down-up so the next swing move is down. Look for short continuation at shadow. 3 shadows over head provide potential resistance.

Analysis for day traders: Continue long with current white week candle. Overhead shadows potential TP.

GBPUSD discussion here.

GBPUSD weekly chart 01 by Colonel Kink Forex Reporter

GBPUSD weekly chart 01 by Colonel Kink Forex Reporter

 

USDJPY

Analysis for swing traders: Current action is down-up-down so the next swing move is up. Look for long as a continuation. However a big parallel channel offers resistance. 3 shadows overhead offer resistance.

Analysis for day traders: Continue long with current white week candle. This week close hit shadow number #1 so it is possible that TP already hit resistance is in.

USDJPY discussion here.

USDJPY weekly chart 01 by Colonel Kink Forex Reporter

USDJPY weekly chart 01 by Colonel Kink Forex Reporter

 

AUDUSD

Analysis for swing traders: Current action is up-down-up so the next swing move is down. Look for short as a continuation. 2 shadows offer resistance. Pair is currently trading inside shadow #1 so qualifies a close look. It could go up to shadow #2 if USD sentiment is weak or it could send sell signal here.

Analysis for day traders: Continue long with current white week candle. Price is trading inside shadow #1 so TP already in. Buying now equals buying at resistance no good. Look for clear break to go on to #2.

AUDUSD discussion here.

AUDUSD weekly chart 01 by Colonel Kink Forex Reporter

AUDUSD weekly chart 01 by Colonel Kink Forex Reporter

Forex ideas using the ColonelKinkSAR™ Method. Follow me on https://www.tradingview.com/u/colonelkink/.

I have no license to analyse/provide recommendation anywhere on Earth. I am a stranger. Bear your own consequence if you choose to listen to a stranger.

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