Welcome back to another weekly predictions. Quiet week in terms of news this week so we can begin to see some more ‘natural’ movement. In terms of technicals there is a few opportunities on the radar here and there but as mentioned before the markets are entering a consolidation stage.
Euro is consolidating and has put a decent move to the downside within. There is some room to go down to the red line and now we are putting in a flag type pattern which we can expect to break to the downside. I already have an FTB entry into it which I am happy about and expect it to at least not be a full loss. GbpUsd is retesting support and just consolidating. However on the 60 we have a strong break and impulse which wouldn’t be surprising to me if we retested the lows or got some sort of bearish reaction at least which I would be looking to get in at.
AudUsd we have a double to which technically didnt close above but it is depending on your rules how you approach it. Similar to the EurUsd we have a nice flag type pattern forming. However I dont really have a bearish bias on this so even if I predict a potential break to the downside I don’t think it is as high probability sa the euro. GbpAud we are at support currently so you can look for a buying ooportunity to carry it up to the red line or zone above.
Aside from that this week I tried a slightly different approach in terms of the weekly predictions. It is more in depth so check it out and let me know what you think.