Hello traders,
Some pretty good setups to watch out for this week.
Let’s hit the charts:
1. GBP/USD
The bears took charge last week Wednesday, and ever since we saw a steady fall of the GBP/USD
on the 4 hour time frame we can see a head and shoulder pattern formation. A breakout below the neckline means price may gift traders over 400 pips the first few days of the week
2. EUR/USD
A head and shoulders pattern formation can also be seen on the EUR/USD
Price has broken the neckline already. All we have to do is look for bearish entries and ride price to the next possible support level (0.95621)
3. USD/CHF
For close to two weeks, price has been consolidating on the USD/CHF.
Friday closed with a bullish breakout on the daily time frame. Our aim this week will be to join the buyers and ride with them to the next possible resistance level (1.00479)
4. AUD/USD
For two weeks AUD/USD consolidated within the consolidation band. Last week Friday price broke the consolidation band at the close of the market.
This week there is a high possibility that price will continue its bearish run to the next possible support level (0.60006), which is over 350 pips away
5. EUR/JPY
EUR/JPY broke a key support zone at the close of market on Friday.
This week we may see the bears pull price down the the next possible support zone
What say you?
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