Week of October 02 – October 06, 2017

A COUPLE OF THIS WEEK'S PROJECTIONS:

AUDUSD:  This pair has clearly been following the weekly structure in the current downtrend, having pushed short from the anchor set back on September 20th.  On the 4 hour chart we see the 800 EMA setting up as a potential area for this pair to bounce off of, effectively completing the weekly structure and starting the Mid Week Reversal.  Our bias on AUDUSD:  LONG

XAUUSD:  Gold ended the week having set a new low on Thursday and re-tested that low again on Friday.  The pair is sitting a few pips from the 800 EMA (4 hour chart) which is setting up beautifully for this pair to pin and bounce off of, in essense beginning the new trend long.  Look for XAUUSD to open the week in [Consolidation], setting a new low by working around the 800 EMA (4 hour chart) and begin to move long after validating the reversal with a solid candle pattern.  Our bias for GOLD:  LONG

 

LAST WEEKS RESULTS:

About the Author:

Jared has been trading the FX market for the past 8 years, having learned the Strike Zone Trading Strategy under the mentorship of Zen Alldredge. Jared currently works with Zen as a member of the Trading Empire doing "live" Checkdown webinar sessions Monday - Wednesday.

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