Forex Weekly Outlook for AUDUSD, EURUSD, GBPUSD,  USDJPY, USDCAD forex pairs (Price Action)

Colors for Support, Resistance, Trend Lines: Monthly, Weekly, Daily

AUDUSD

Monthly Commentary: Price is inside the channel, borders are respected.

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Weekly Commentary:  Blue weekly resistance was broken and now it is support, we need to see lower time frame for entry.

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Daily Commentary: The trend is bullish, red daily trend line is respected. White pinbar shows rejection of daily trend line. It was ideal place for entry (red arrow), also 50% of Fibonacci`s level hold price above. Everybody who is in trade has profit. In this moment we have daily inside bar, possible new entry is above the mother bar.  If price retrace back we need to see what will happen.

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EURUSD

Monthly Commentary: Price is inside the channel, borders are respected.

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Weekly Commentary:  Price is in area where monthly channel and weekly resistance is.

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Daily Commentary: The trend is bullish, red daily trend line is broken. We need to wait for clear price action here.

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GBPUSD

Monthly Commentary:  Price is between monthly support and resistance.

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Weekly Commentary:  Nice breakout, resistance is now support. Price retrace back. On lower time frame we can search for Buy opportunities.

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Daily Commentary:  Price retraces back to daily support, we need to wait for clear price action, and ideal case is to search for buy opportunities from weekly and daily support.

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USDJPY

Monthly Commentary: Price is inside the channel, borders are respected.

Weekly Commentary:  Not clear, price is in area where weekly trend line is. We need to see lower time frame.

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Daily Commentary:  On daily chart are inside bars, possible entry is above the mother bar, but ideal case is retested red daily support before buy entry.

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USDCAD

Monthly Commentary: After breakout price is back on support.

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Weekly Commentary:  There are clear weekly levels for support and trend line. We are testing monthly support too.

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Daily Commentary:  After daily breakout is price back in the area where daily support and daily trend line is. We need to wait for reaction inside this area.