Weekly Technical Analysis Report 14 September – AUDUSD played out nicely, bearish play seen on GBPUSD

Weekly Technical Analysis Report 14 September – AUDUSD played out nicely, bearish play seen on GBPUSD

1. Last week’s outlook on AUDUSD: Bearish play seen

On the H4 timeframe, prices are facing bearish pressure from its resistance area at 0.685, in line with the 100% Fibonacci extension and 50% Fibonacci retracement . A pullback to this zone presents an opportunity to play further drop to the next support target at 0.676, in line with the 61.8% Fibonacci retracement and extension. Ichimoku Cloud is also showing bearish signs, supporting our bearish bias.

Before:

Coloured candles represent our projection

After:

https://www.tradingview.com/chart/AUDUSD/FjVACnAS-Bearish-outlook-on-AUDUSD-9-September-2022/

 

2. This week’s outlook on GBPUSD: Bearish play seen

On the H4 timeframe, prices are facing bearish pressure from its resistance area of 1.175 in line with the 38.2% Fibonacci retracement . A break below the support zone at 1.142, in line with the 61.8% Fibonacci extension , presents an opportunity to play the drop to the 1.125 level in line with the 100% Fibonacci extension . Ichimoku Cloud is also showing bearish signs, supporting our bearish bias.

Bearish outlook on GBPUSD: 14 September 2022 by Salzworth on TradingView.com