Hello traders,
how has trading been for you this month?
For me, it has been turbulent. I had to reduce my position size. Hopefully this week, we may see some good setups play out
So, let’s see what the market has for us this week.
1. GBP/USD
We can see triple tops on the GBP/USD.
The only problem is that price is presently resting on support level 1.35757, hence we need to apply caution if we are to take a trade.
Price may bounce off the present support level and re-visit resistance level 1.36098. If we get lucky and see 1.35757 get broken, then our initial target profit will be 1.35256
2. EUR/JPY
EUR/JPY has broken an ascending trendline that served as a strong support level, however, price still has a key support zone to break if we are going to sell this pair to the next possible support level (128.911)
If the support zone holds price, then we may see price revisit resistance level 130.510
3. NZD/USD
The NZD/USD is one set up to look out for this week.
We can see a double rejection around the key resistance zone. I am banking on the sellers carrying out their threat this week by pushing price back to support level 0.65917
What say you?
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