Market Commentary 9-27-2020 – NZDUSD AUDUSD USDCHF EURUSD GBPUSD

D1 Analysis:

• NZDUSD
  • the double top formation was complete this last week
  • the 0.67899 level held and price broke to the downside
  • we could expect a retrace to the 0.665372 level or sideways movement in between 0.665372 and 0.651471 this upcoming week
  • if price breaks below the 0.651471 level, then we can expect continuation of short trend 
• AUDUSD
  • price broke to the downside last week and is setup for a beautiful deep correction or possible overall short trend
  • we can expect price to have an initial correction to the 0.719244 level
  • we may see consolidation or sideways movement between 0.719244 and 0.702139 in the upcoming weeks
  • if 0.702139 breaks to the downside with candle body holding, then we can expect full trend reversal to the short side
• USDCHF
  • trend reversal setup beautifully last week
  • we can expect a correction to the downside, potentially around the 0.921572 level
  • possible sideways movement between 0.932227 and 0.925284 in the upcoming weeks
  • if 0.932227 breaks to the upside, then we can expect continuation of the long trend
• EURUSD
  • broke consolidation period last week to the downside
  • We can expect sideways movement between key levels 1.174548 and 1.161001
  • if 1.161001 level breaks further to the downside then full trend reversal is in the works.  sell on rises in the market!
• GBPUSD
  • Fulfilled a deeper correction last week
  • If 1.280339 holds then we can expect sideways movement between 1.280339 – 1.262537
  • If price breaks below 1.262537 then we can expect full trend reversal to the downside with next target of 1.255473