Weekly Forex Pairs Analysis- 25th of April- 29thApril 2022

1-EUR/USD

TradeforexTrap

Price Action– A pinbar was formed at daily chart on Thursday of this week at support turned Resistance,1.09363, and this also was confirmed on the weekly chart.

Trading Focus– We are anticipating continuation of the bearish trend and expect the market to rally into 1.06894 support zone.

2- AUD/USD

Price Action-No visible price action setup on Friday, but the bearish trend is very strong at the moment taking a larger overview from the weekly chart.

Trading Focus– We are anticipating a slight reversal into 0.73123 zones and then continuation of the dominant bearish momentum, 0.71688-0.69926 zones are long term support zones.

3- AUD/JPY

Price Action– A bearish reversal pin/false break bar was formed after a strong bullish momentum at 99.723.

Trading Focus- We are anticipating more price action that will clue us into a bias in the short term.

4-EUR/CHF

Price Action- Inside bar was formed on daily chat on Friday at key resistance zone,1.03221 .

Trading Focus- We are anticipating formation of a false break setup at this key resistance zone. This will make us to consider trading the near term bullish momentum in short term.

5-EUR/AUD

Price Action- There was no price action on Friday.

Trading Focus- The dominant bearish trend is still in place, we are anticipating bearish price action around 1.49409 resistance zone for a continuation of the bearish momentum.

6- EUR/GBP

Price Action- No price action on Friday.

Trading Focus- The market has been ranging between 0.84633 resistance and 0.82989 support zones. There was a bullish trap in the course of last week before the strong bullish moves, we are anticipating a move into the resistance zones where we can wait patiently for a price action setup.

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