Ahaaaa!!!
Its Sunday once again, and I am happy that the market would be coming alive in some few hours.
That said, its time to analyse the market for the week. Let’s start with
1. USD/CAD
USD/CAD getting close to the third resistance level at level 1.31991. At this point the market will either reverse and hit level 1.29625, or break through the resistance level and head to level 1.32896, which would be it’s first resistance level.
2. EUR/JPY
EUR/JPY has broken a second support level at 127.112, we may see this pair hit its next support level at 124.619 if the close of Monday’s candlestick at 10pm GMT does not dictate otherwise.
3. EUR/USD
This pair, I hold to heart dearly. If you remember, we analysed EUR/USD last week Sunday.
At that time, the pair had not yet broken out of it’s support level 1.15613. The weekly candlestick which closed 10 pm GMT last week Friday suggests, a strong bearish trend. This is a trade setup I would definitely watch out for next week.
4. AUD/JPY
This is an interesting setup. The third support level (80.581) may cause the price to range the whole of next week, or the price may simply breakout from its support level, and continue it’s bearish trend to level 78.283.
Can’t wait to see how next week will unfold.
If you have an opinion contrary to what we have analysed or you have contributions to make, kindly do so, we would be happy to share your views.
Do have a beautiful week ahead
