FX Price Action Watch: AUD/NZD, AUD/USD, USD/JPY, Gold

In this week's market analysis, we will look at potential trading opportunities and zones where we should look for price action, evidence and potential moves. 

Pairs and markets analyzed this week: AUD/NZD, AUD/USD,Gold, USD/JPY

AUD/NZD: At 1st management point (3.5 ROI)

AUDNZD chart

As mentioned last week we were waiting for bullish evidence (significant price action) for a potential move to the upside the support zone.

We entered the trade on a very nice significant pinbar (Aug 2nd) and we are now at 2.8 ROI and approaching our 1st management point ( the 1.073-1.077 zone). If price breaks this zone it could go as high as the next resistance zone (1.123-1.129).

AUD/USD: Significant pinbar price action at resistance zone

  AUDUSD Chart     

Significant pinbar price action at resistance zone 0.763-0.767. Potential move to the downside from this zone. 

Target: 0.738 for a 3.11-1 ROI

Gold: Testing support. Watch out for bullish price action

XAUUSD Chart

Gold price is at support zone 1328.9-1336.3. Watch out for bullish evidence (significant price action) and a potential move to the upside from this major zone.

USD/JPY: A nice 4.43 ROI thanks to nice price action at resistance

USD/JPY Chart

For those who went short 2 weeks ago on this bearish price action pinbar, we were aiming for 101.2 and turned a nice 4.5:1 ROI.