FreshForex congratulates you who took the first two setups last week on both EURUSD and GBPUSD. Price moving pretty smooth towards our target and see if there’s any setups available for the current week before FOMC.
This week before FOMC, see if price still have an interest to go higher. But if price broke this demand area, just look for sell setup targeting previous week’s low. Wait and see.
That was EURUSD. Now GBPUSD. The similar scenario is seen here just wait and see on how price will react later on during FOMC.
As price has been consolidating for the last two weeks, we can see on how AUDUSD is currently forming a Compression setup which will increase the possibility of price going lower now. Make sure to participate with the setup before it moves lower later.
NZDUSD has the similar setup where we can see the Compression setup and now it’s just a matter of reaction from FOMC this week to confirm this bearish setup. Either to enter it right away or just enter after FOMC and within the lower timeframe.
This may be considered as a surprise but SPX has a good retracement setup which we can participate on the sell today and aim for the previous day’s low here.
More market forecasts covered by FreshForex in their website. Just make sure don’t take the forecasts blindly without your own analysis.
This week, following recent events in the past two weeks, we are examining potential setups in major currency pairs. Personally, I maintain the belief that major pairs will decrease in value. Let’s take EURUSD as an example. The price was rejected from moving higher after reaching a specific supply area. Now, our focus is on observing how the price is going lower this week and the likelihood of it reaching a demand area.
Moving on to GBPUSD, we anticipate a similar downward movement. Last week, the price established a new supply area. We might see some consolidation or temporary upward movements before it continues to decrease. Our initial target is the lowest point reached this month before reaching the lower demand area.
Despite price consolidation last month, AUDUSD is on a downward trend. We now have a clearer indication of the price moving lower after creating another supply area.
Lastly, NZDUSD shows a slightly different price pattern, but it’s evident there’s a Fakeout Setup. We plan to capitalize on this setup later this week or possibly the next. Our main target for the week is the specified demand area.
The new week along with NFP week to start November. We’re going to see how major pairs holding up before the news event. EURUSD still within the initial idea to look for bearish move towards this area. A good chance the NFP will drive the price to our target this week.
The next one for the week is GBPUSD and see how we are still on the bearish trend towards this area. Just see any setup for entering the market in a smaller timeframe. Price just visited the area above to clear it out before going lower so our confidence on the bearish setup is even stronger.
For this week, we can see on how AUDUSD has been consolidating for couple of days but yet entering the area below. We can look for any setups but the profits would be lower than the previous instruments. We can wait and see for any reversal setup in a long term.
