Hello traders,
As we get closer to the Christmas holiday’s, the market is becoming less liquid, less liquidity means fewer viable setups to trade.
That said, let me share a few setups that may play out this week.
1. GBP/USD
GBP/USD formed a higher low last week, however the key resistance zone from the previous week refuse to be broken.
This week I will be interested in GBP/USD only if the key resistance zone gets broken. If that happens, then we may see price hit the next possible resistance level (1.26422)
2. NZD/USD
NZD/USD and GBP/USD share similar structure, and my bias is also bullish.
Joining the bulls to the next possible resistance level (0.65689) means I will be waiting for the key resistance zone to get broken first.
3. NZD/JPY
The higher lows and higher highs formed on the NZD/JPY means the bulls are gearing up to break the key resistance zone that has held price for over seven months.
If the breakout materializes, we may see price dish a little over 150 pips this week
What say you?
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