Refer a friend

The Forex Market Wrap is here!

 Watch the video to learn what key levels have been hit this week!


forex market wrap usd index

The USD Index this week has largely ranged between $93 and $92 despite some positive retail sales. If the current daily price action finishes as it is we could see the market remain range bound. However, if it was to break and close above the range we could see a move back to the highs at $93.70. Strength and weakness charts showed us the USD was a strong currency last week but this week we haven’t seen that momentum continue so we need to see how the price reacts and a breakout is needed to determine the next move.


forex market wrap eurusd

The EURUSD price this week continued lower despite forming some low ranging candles at a support area. It could continue higher if the USD Index was to reject the range highs. The key will be the 4hr time frame, if this was to start to form higher highs and higher lows we can assume that the Daily time frame was entering an impulse phase.


forex market wrap audusd

The AUDUSD continued lower this week too in line with the retracement phase on the daily time frame. Now the price is back at the key support zone around 0.7280 we need to see a reversal pattern form. If the price forms a double bottom or a break of the current highs we can assume that a daily impulse phase is going to form and we can begin to look for long opportunities. Only downside to this market is the recent employment figures out of Australia dropped significantly as they suffer from the recent outbreak of Covid-19. 


forex market wrap nasdaq

The NASDAQ was a market we looked at in the week ahead analysis video as the weekly looked to be entering the retracement phase. If the market is in a retracement phase in a bullish weekly trend we should see the daily time frame form lower highs and lower lows, however, the price has largely ranged. If the price breaks through the lows we can assume the retracement is forming a look for a move down to the major support zone back at $15200.00. 

Enjoy low spreads and quick trade executions with a live account. Our highly committed customer support team will assist you from your quick account setup to any future concerns. Start trading with Blueberry Markets today.

Join us on Telegram
and get real-time
alerts on
Indices, Gold, Crypto
and Share CFDs

Join now for free
telegram cta
bbjam graphic

Sign up to
Blueberry Jam

Back up your trade positions with insights
and how-to-guides, straight to your
inbox every week

Thank you. You have successfully subscribed to Blueberry Jam!