Happy Sunday Traders,
Let me officially welcome you to the third week of the month of October.
How did your weekend go?
I spent mine burning hours playing Uncharted 4.
I have had the game now for over 6 months, but for some reason, I never played it. I had other kinds of stuff tying me down so I never opened it since I bought it.
A brother called me over the weekend and gave me a great review of the game and I will tell ya, after playing it, I must say… Naughty Dog(The producers of Uncharted) never disappointed.
Owwkay, let’s see what the market has for us this week…
1. AUD/USD
The AUD/USD closed with a beautiful triangle on Friday.
Presently we can see price being resisted by 0.68058 level.
If a breakout occurs, we could see the Bulls pulling price up to the next resistance level (0.68947), and if price is rejected, we could see price revisit support level (0.67112)
2. NZD/JPY
Price on the daily chart of the NZD/JPY has a beautiful descending channel.
Price is also locked within a minor ascending channel, and our next possible resistance level would be 70.329. For the less conservative traders, this may be a good buy trade
For the more conservative traders, waiting for price to hit resistance level 70.329 before looking out for price reversal to support level 67.732 or a bullish breakout to the next possible resistance level (72.232) is important
3. GBP/JPY
On the daily time frame, price on the GBP/JPY is heading towards resistance level 138.411.
A breakout could further send price to the next possible resistance level 143.743 and a reversal will most likely send price back to support level 132.747.
That’s all we have this beautiful Sunday, Join us through the week as we analyse your favorite pairs in the market.
I wish you a fruitful week ahead.
