Selby Forex Foundation

NZD-USD the market indicate that .....................

GBP-USD ......................

29-2 AUG/SEP 2022 EUR USD D1, AUX USD

Weekly forecast 15-19 AUG 2022 EUR USD D1, XAU USD D1

EUR USD D1

Trend : downtrend, descending channel

Resistance2 : 11708

Resistance : 3493

Support : bottom line of descending

Support2 : ?

Comment :

EUR USD the market is trading at 2560 of which is still looks down trend, we are looking for bulls to fight until it breaks at the top of the descending channel, so that we can look for buy opportunity. *green arrow*

Alternative Scenario : other than that sellers need to defend ceiling 3493, then the market will continue to obey the descending channel go down to reach our support *red arrow*

XAU USD D1

Trend : downtrend

Resistance2 : 1878.80

Resistance : 1800 Ceiling

Support : bottom of descending channel/ Floor

Support2 : ?

Comment:

XAU USD D1 the market is trading below the ceiling, the sellers need to defend the ceiling for this week, by doing so the market will continue to trade between the descending channel*red arrow*

Alternative Monday a daily close above our ceiling level the uptrend will continue to go up to reach our second resistance *green arrow*

Trade responsible, all the best