Hello traders,
Some good setups to look at this week:
1. GBP/USD
Last week GBP/USD closed with a strong bearish breakout.
Both the key support zone and 200 moving average were cleared by aggressive sellers. This week if we are to join the bears, it won’t be bad if we wait for a pull back, just to get a better risk reward ratio.
If price reacts according to our analysis, then NPSZ is our next bus stop
2. USD/JPY
Last week, USD/JPY clearly broke a key resistance zone a few hours before the close of the market.
This week I will be watching out for a pull-back before joining the bulls to NPRZ
3. USD/CAD
USD/CAD also started a strong bullish momentum last week and all we should be looking out for before joining the buyers is:
A breakout above the key resistance level (1.35682), and if that happens, then NPRZ should be our next target. However if the week starts by price falling back to NPSZ, and a breakout occurs, the the 2nd and 3rd possible target profits will be 1.34116 and 1.33242 respectively
3. USD/CHF
Price is still trying to break a strong key resistance zone on the USD/CHF.
If this week presents to us a breakout above the resistance zone and 200 moving average, then we should expect price to move to the next possible resistance zone marked green
What say you?
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