Hello Traders,
how did your weekend go?
Mine was restful and also entertaining. I had some tournament games to play with my gaming community on 2021 Pro Evolution Soccer, and I also enjoyed UFC 259, as one of my favourite fighter (Israel Adesanya) fought against Jan Blachowics.
Israel lost but I was satisfied for two reasons:
- Israel was fighting in a higher weight division (light heavy weight), which I believe was a test for him.
- Israel lost by a unanimous decision, which in my opinion means he tried afterall
That said, let’s hit the charts:
1. GBP/USD
On the GBP/USD, price froze last week on a key support level (1.37814)
This week, patience will be required to see if price will bounce off the present support level and hit 1.40161 or a bearish breakout will force price further down, to the next possible support level (1.35568)
2. EUR/USD
Price on the EUR/USD closed on Friday by breaking two important support levels (1.20434 & 1.19552)
This week we may see the bears continue their domination, and price may further fall till support level 1.17632 is reached.
3. AUD/CAD
AUD/CAD is currently resting on a minor support level (0.97147)
This week, price may either bounce back to resistance level 0.98516, or the current support level may get broken and price may further fall till it gets to support level 0.96083.
All we need is patience to take this trade.
4. XAU/USD (GOLD)
Gold has finally revealed its hand. Last week price broke the 1729.93 support level on the weekly chart.
All we need to see this week is a confirmation that the bears still have what it takes to push price further down to support level 1565.83 before we join the party.
What say you?
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