Hello traders,
Last week, on some pairs, price closed at some key levels, which excites me. Let’s hit them charts:
1. USD/CAD
A hidden bearish divergence can be spotted on the USD/CAD. Also, price closed with a doji at a key resistance zone, just below the 200 ma.
I smell weakness on the USD/CAD this week and a possible drop to NPSZ. Furthermore, this setups will be good for swinging because I do not see any red folder news event till Thursday
2. AUD/USD
A hidden Bullish divergence can also be spotted on the AUD/USD (which is the opposite of what we see on the USD/CAD)
The only reason why I will choose the USD/CAD over the AUD/USD is because of the Wednesday CPI news on the AUD. So, if you are big on swinging, this pair may not give you much room to hold.
Although there is a huge possibility to make over +100 pips between Monday and Tuesday
3. GBP/JPY
GBP/JPY was my nemesis last week
This week, I will be chilling to see if the buyers from last week, will be dominating the market, as we can see that our triple top formation may still be valid if price is not rejected by the 200 ma.
If I spot a rejection, then I will most likely join the buyers and ride with them till NPRL. Mind you, there is CPI news on the JPY by Tuesday, so this setup could be a good intraday trade, if it pan’s out
What say you?
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