TRADEWITHBOLU WEEKLY FOREX ANALYSIS FOR EURUSD, GBPUSD, XAUUSD, GBPJPY(7TH FEBRUARY 2023- 13TH FEBRUARY 2023)
Hello Everyone!
Welcome to this Tradewithbolu’s weekly Analysis for the week ending February 13th, 2023. This week, we will be taking a look at 4 Pairs and will be sharing our take on these pairs. |
These pairs include: EURUSD, GBPUSD, XAUUSD AND GBPJPY
let’s dive in,
EURUSD
On the weekly Timeframe, we have noticed a recent bullish movement over the past weeks, even though we are still on a downtrend over the past series of months.
Currently Price is at an order block that previously broke structure and has rejected off it.
I am still expecting a continuation of the recent bearish movement we have noticed on EURUSD, break of the current Support zone, can see price push all the way to the 1.05000 Region.
GBPUSD
Price has 2 major support levels to break through to the downside, before we can confirm that price is moving in a downtrend.
Nevertheless, if we see a strong rejection back to the upside, there could be a possible entry back to the highs to take out the liquidity above
XAUUSD
We have seen price make a rejection off an order block that previously broke structure. A potential target for the new formed bearish movement has been highlighted.
We have marked out two potential Point of Entry that price could possibly reject from back to the downside.
GBPJPY
We currently can see price consolidating. We have a downward trendline in place and we could see a push back to the upside to our marked out Point of Interest.
We have also marked out the order block that previously broke structure as we could see an entry from there.
Ensure you validate entries with candlestick patterns as extra confirmations
Remember to Apply Proper Risk Management always when Trading. Best of Luck this week in your Trading Journey.
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