Hello traders,
let’s see what the charts have for us this week.
1. USD/CAD
Triple tops can be seen on the USD/CAD. If the buying pressure continues this week and the current resistance zone is broken, then price next stop would be resistance level 1.28697.
We should also not forget that the current price level has rejected price twice in the past, so there is a huge probability that history may repeat itself. If that happens, price may return to support level 1.26612
2. GBP/USD
Last week GBP/USD closed forming a consolidation around support level 1.35218 after price was rejected by resistance level 1.36284.
We may see price fall further to support level 1.34371 if we do get a bearish confirmation. That said, we also have to watchout for price reversal at the current support level, which may take price back to resistance level 1.36284.
3. EUR/USD
EUR/USD on the daily time frame has formed a double top after the crazy bullish run last week.
There is a high probability that price may reverse and revisit support level 1.13670, however we should not be in a rush to sell except our system gives us a confirmation to sell.
Take note that price may break resistance level 1.14826 this week, and if that happens, we could see price move more than +150 pips to the next possible resistance level 1.16653
4. AUD/USD
AUD/USD gave us a strong bearish breakout of a key support level before hitting us with a pullback.
This week we may see price continue its journey to a previous support level (0.69961)
What say you?
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