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

Hello everyone! This post is covering the Market Commentary for multiple assets using The Professor and Pure Price Action Technical Analysis.

Please remember that we want the candle body to close above or below the new defined range for validation to enter the trade.  Avoid getting caught in a trade with some of those wicked wicks!

Also, remember to set your trailing stop around 25 pips (using previous support resistance will give you best results).  Majority of these trades reach 50 or more pips, but protect your profit in case the trade turns around.

SL is set at the opposite side of the new defined range.

New Defined 4H Ranges:

NZDUSD – 0.656107 – 0.652997

AUDUSD – 0.704448 – 0.700675

USDCHF – 0.929741 – 0.927242

EURUSD – 1.164678 – 1.160393

GBPUSD – 1.277262 – 1.269769

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

Cheers to another successful week!

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