• Duncan Cooper , Senior Market Strategist & Trading Mentor at ACY


• 20.02.2022 02:45 pm
#stocks , Duncan Cooper is a full-time trader and mentor and the Senior Market Strategist at ACY Securities. Trading full-time since 2009, Duncan's insights are from the battleground of real-time markets, not theory, and he thrives on educating traders to reach their financial goals.

Overview:

Watch the video for the key trading levels for the week ahead for AUDJPY, AUDUSD, EURJPY, EURUSD, GBPJPY, and GBPUSD.

Last week we saw a very volatile market driven by Ukraine war news. AUDJPY, AUDUSD, and GBPUSD just held positive gains for the week. EURJPY, EURUSD, and GBPJPY finished down for the week. Expect more volatility this week as Ukraine tensions escalate.

AUDJPY Daily chart:
Monthly support at 78.46, resistance at 85.80.
Weekly support at 82.01, 80.36, and 78.83, resistance at 83.97 and 84.29.
Daily support at 82.27, resistance at 82.96.
Price was held by the 82.01 weekly support level and the 82.96 daily resistance level last week. Price may be forming a lower top. Will price now continue to decline and break below the 82.01 weekly support level this week?

AUDUSD Daily chart:
Monthly support at 0.6991.
Weekly support at 0.7106 and 0.6991, resistance at 0.7170 and 0.7313.
Daily support at 0.7086, resistance at 0.7249.
Price rallied above the 0.7170 weekly resistance level and then closed at the 0.7170 weekly resistance level last week. Price may be forming a lower top. Will price now start to decline and retest the 0.7106 weekly support level this week?

EURJPY Daily chart:
Monthly support at 127.37, resistance at 133.12.
Weekly support at 128.24, and 127.92, resistance at 131.59 and 133.47.
Daily support at 130.15 and 129.23, resistance at 131.59.
Price rejected the 131.59 weekly resistance level forming a lower top last week. Will price break the 130.15 daily support level and continue to decline down to the 128.24 weekly support level this week?

EURUSD Daily chart:
Monthly resistance at 1.1495.
Weekly support at 1.1221, 1.1186, and 1.1121, resistance at 1.1482 and 1.1524.
Daily support at 1.1272, resistance at 1.1386.
Price rallied and failed at the 1.1386 daily resistance level forming a lower top last week. Will price further decline and break below the 1.1272 daily support level this week?

GBPJPY Daily chart:
Monthly support at 148.45, resistance at 156.07, 156.59, and 158.21.
Weekly support at 152.84 and 149.00, resistance at 157.76.
Daily support at 155.30, resistance at 156.90.
Price rallied and was held at the 156.90 daily resistance level last week. Price may be forming a lower top. Will price now decline and break below the 155.30 daily support level this week?

GBPUSD Daily chart:
Weekly support at 1.3357, resistance at 1.3748.
Daily support at 1.3490, resistance at 1.3627.
Price remained in consolidation between the 1.3490 and 1.3627 daily support and resistance levels. Will price find a clear direction or remain in consolidation again this week?

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