Hello Traders,
It’s been raining cats and dogs over here. Abnormal weather for October. How is the weather over there?
The weekend has been a restful one for me, I hope it was for you too?
Going through my charts, I see some promising setups, all I pray for is they go according to plan.
Let’s hit the charts and mark those pairs we should be monitoring this week.
1. USD/CAD
On the daily chart, the USD/CAD closed with a bearish outlook on Friday.
Don’t forget that the USD/CAD on the daily chart has a descending channel pattern. Furthermore, price closed on Friday by breaking out of a minor support level (1.31417).
If our bearish bias is confirmed this coming week, our next possible support level would be 1.30442.
2. USD/CHF
USD/CHF broke through (0.99457) an ascending trendline on Thursday, and also broke a second support level (0.98542)
Personally, I would be looking out for a Bearish confirmation this week before I ride this pair to our next possible support level (0.97159).
3. AUD/JPY
AUD/JPY is one interesting pair to watch out for this week.
After re-testing a descending channel (71.998) it once broke, the Bulls pulled price to a key resistance level (74.404)
This week, price may either continue it’s bullish run to the next possible resistance level (76.239) or return to support level (73.006).
Thank you for your time, and I do wish you join us all through the week as we share our analysis of the market all through the week.
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Do have a great week ahead and as always…
Remain Pip-full
