Weekly Trade Setups and Chart Analysis Aug 21-25

Weekly Trade Setups and Chart Analysis Aug 21-25

 Weekly trade setups for the best Forex pairs to Trade

Please note — all trade setups and chart analysis is done on the daily or 24 hour time frame

EURUSD: Bullish run could continue with the formation of two pin bars

The bulls are clearly in control, and as you can see here, price has been climbing upwards in a steep manner.

Currently, price is retesting an area that is considered a resistance. But since we’ve got 3 pin bars which signal that upward buying pressure is still strong, traders could take advantage of the short run up to 1.8700.

If another buy signal forms, then it would mean that the trend is solidly in place. Traders could look to buy above the resistance zone. 

EURUSD weekly chart analysis

 EURGBP: Pin Bar shows buying opportunity

The EURGBP is the best pair to trade or focus on when the markets open on 21st August, 2017. The uptrend has remained solid. There’s only one deep which occurred around an area that can be treated as a support zone, mainly between 0.87592 and 0.88351.

Shortly afterwards, the bulls took over and the trend is in place. Also, the pin bar setup right on top of the chart suggests that more bulls are jumping in, hence their is a great chance that this trend will continue until price hits a key resistance zone at 0.93400.

Nevertheless, there is still opportunities to jump in before price can reach that area. Once it is there, traders will wait for the price to test it or form a buy signal on the 1 and 4 hour time frames respectively. The uptrend for the EURGBP could continue the climb indefinitely.

eurgbp weekly trade analysis

EURNZD: Pin bar forms on an uptrend suggesting that we could buy

Although the EURNZD has been climbing for the last 2 or so weeks, price has reached and started testing the resistance zone at 1.62300. That re-tracement could offer a buying opportunity once it corrects itself.

The long pin bar also suggest that there is more upward pressure coming from buyers. If price closes slightly above it, traders can take advantage of the trend as long as they close their trades below 1.62400.

If price retests this area and penetrates it with a strong formation of a buy signal, then the next resistance that traders could watch is 1.6700 region. Buying opportunities could still manifest this week for traders to jump in.

weekly trade setup and chart analysis for eurnzd

USDJPY: Price retested support 3 times, traders could wait for a buy signal to form

Price has bounced off support 3 different times, which suggests that this is a reliable support area. Traders should therefore look for a buy trade signal above the current bar. Stop loss levels should not exceed 110.600 as price could retest this area and knock some traders out of their positions in the process.

weekly trade setups forex chart analysis for NZDJPY

For more of these price analysts and trade setups, sign up to our newsletter. Here, we do discuss potential Forex trade setups on a weekly basis. We also provide a detailed analysis of charts for different Forex pairs.

About Post Author

Deli Press Viral