TriumphFX Inter-day Forex Analysis – Weekly Charts – 2019 & 2020


 

Weekly support and resistance zones (horizontal levels, trend lines, channels, etc) can provide great trading opportunities on the lower time-frames. They can also be used for setting stop loss and take profit areas. Below are key support and resistance zones to look out for during the remainder of 2019 and throughout 2020.

 

AUDCAD

 

Price is down-trending within a bearish channel. Moving averages are bearish and steady.

Key areas to watch…

Bearish channel support and resistance areas
Horizontal levels at 0.9130, 0.9200, 0.9360, 0.9650, 0.9770, 1.0100, 1.0290 and 1.0680

 

AUDCHF

 

Price is moving within a tight bearish channel but also ranging between 0.6525 and 0.7750.

Key areas to watch…

Bearish channel support and resistance areas
Range support and resistance areas
Horizontal resistance at 0.8720

 

AUDJPY

 

Price is down-trending.

Key areas to watch…

Trend resistance area
Horizontal levels at 75.45, 82.05, 87.35 and 90.30

 

AUDNZD

 

Price is consolidating within a range at 1.0035-1.1310 and also a symmetrical triangle pattern

Key areas to watch…

Triangle support and resistance areas
Break-out of symmetrical triangle
Support and resistance areas of the range

 

CADCHF

 

Price has formed 2 horizontal channels at 0.7133-0.7885 and 0.6870-0.7885

Key areas to watch…

Support and resistance areas of the channels
Horizontal resistance at 0.8660

 

EURCAD

 

Price has recently swung below long-term trend support. Price action has formed a bearish channel. Moving averages are bearish and steady.

Key areas to watch…

Previous trend support (as resistance)
Support and resistance areas of the bearish channel
Horizontal levels at 1.3195, 1.3835, 1.5580 and 1.6065

 

EURNZD

 

Price action has formed a rising wedge pattern

Key areas to watch…

Support and resistance areas of the wedge
Break-out of the wedge
Horizontal levels at 1.6410, 1.4660 and 1.4020

 

GBPCAD

 

Price is down-trending within a bearish channel

Key areas to watch…

Support and resistance areas of the bearish channel
Horizontal levels at 1.5330, 1.5805, 1.7740, 1.8250 and 2.0860

 

GBPUSD

 

Price is down-trending within a bearish channel

Key areas to watch…

Support and resistance areas of the channel
Horizontal levels at 1.2015, 1.4235, 1.4635, 1.5860 and 1.7140

 

NZDJPY

 

Price is down-trending within a bearish channel. Moving averages are bearish and steady.

Key areas to watch…

Bearish channel support and resistance areas
Horizontal levels at 72.40, 83.45 and 93.35

 

USDCHF

 

Price is choppy and indecisive

Key areas to watch…

Horizontal levels at 0.8585, 0.9270, 0.9535, 1.0055, 1.0190 and 1.0300

 

USDJPY

 

Price action has formed a horizontal channel at 104.70-114.15 and also a descending triangle pattern

Key areas to watch…

Support and resistance areas of the horizontal channel
Support and resistance areas of the descending triangle
Horizontal levels at 100.45 and 125.5045

 

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