I am watching the following currency pairs next week for potential trading opportunities:
AUDUSD – If resistance at 0.7390 is tested and it holds then I will be looking for signs of strong selling power below resistance to enter short. I am aware of AUD interest rate decision on Tuesday so timing is important if a setup occurs.
EURJPY – support 121.70 was broken on Thursday and price stayed below it on Friday. This was a strong weekly support level so if price comes back up to retest it.
EURUSD - Friday saw buyers taking control of price and made a significant push up. If this rally continues to 1.1480 resistance then I will be watching multiple time frames for signs of sellers taking over to short below resistance. This level has been in play many times in the last 12 months and it is also a significant resistance level on weekly and monthly time frames.
GBPJPY - Sellers were in control last week and this pair finished the week just above 154.60 support level. I will wait for Monday’s daily candle to close before deciding if price action favours a short or long bias. Then I will look for the setups that I know how to trade.
USDJPY – This pair is approaching 105.50 support level. Last time price tested this support level, buyers took control and push up over 500 pips. I will be monitoring this pair on multiple time frames to see if price action suggest that buyers will step in again this time.
NZDUSD – resistance at 0.6880 was broken on Friday and buyers made a significant push through to finish the week above this level. Going into next week, I will be looking for opportunities to enter long above this level if price comes back to test it and I can see signs that it is acting as support with strong buying power.
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