Hello traders,
There are some interesting setups lined up for the week:
1. USD/CAD
USD/CAD is currently bearish. Last week Friday we saw a retest of the previous support zone which now serves as a resistance zone.
This week, a break below 1.31453 (Last week’s low) will give us (early sellers) an opportunity to add to our sell position, while giving new sellers an opportunity to be part of at least a 120 pips drop to the NPSZ
2. USD/JPY
I am warming up for a possible short on the USD/JPY this week.
Price has reached a key resistance zone, and the close of Monday’s daily candlestick will most likely reveal if we should be ready for a massive sell, or stand by the sidelines. If its a sell, then be prepared to grab over 180 pips as price revisits NPSZ
3. CAD/JPY
CAD/JPY has a little over 100 pips before hitting NPRZ.
I would advice we wait to see if the triple tops formation will hold, and if it does, NPSZ will be our next bus stop.
What say you?
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