Weekly Trade Preview: Simple and Clean by Dane Williams

EUR/USD Daily:
eu
– Strong daily down trend.
– Tried to break out of steep, short term trend line resistance but failed at the first supply zone.
– Nice little range down the bottom here now. Look for a re-test of lows (and re-test of trend line), then bounce?

GBP/USD Daily:
gu
– Strong daily down trend.
– Was set to break it’s major trend line resistance before NFP failure.
– Coming back to re-test the top of that bottom range. Play from the long side in this zone and play for the breakout?

AUD/USD Daily:
au
– Strong daily down trend.
– Putting in a potential range bottom. Rejection post rate cut and that daily doji telling.
– Will probably see us test those lows as dojis like this are rarely clean setups but I like the buy anywhere near the lows. Contrarian stylez.

USD/JPY Daily:
uj
– Range inside a triangle after a strong daily up trend.
– At trend line resistance at top of the daily range.
– Is the pair back in play? Play from the short side until it breaks out.

Simple and clean this week. Trade it.

Dane Williams – @danewilliamsau

 

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