Hello Traders,
Welcome to brand new week. How did the month of March go for you in the market?
Mine went well, I had the best month so far this year.
A summary of what went down in the month of March:
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The market trashed me last week Monday and Tuesday after breaking some of my trading rules.
I also have a pending trade from last week.
So, I await the market with great expectations.
For those who are interested in joining our free telegram group, here is the link: https://t.me/craftingpips
I share one of two of my trades per week and also share a few of my soccer bets.
That said, let’s see what the market has for us this week.
1. AUD/USD
The AUD/USD spent the entire last week reversing after hitting a key resistance level (0.62209)
There is every likelihood that this week, price will continue its bearish run to the next possible support level (0.55097).
2. NZD/USD
The NZD/USD, just like its cousin (AUD/USD) spent last week going South.
However, for the more conservative traders, it would be advisable to take a sell after price breaks through support level 0.58427 which is another important support level.
If we get to see a bearish breakout, then our next possible support level would be 0.54705.
3. GBP/CHF
GBP/CHF on the daily chart has finally touched resistance level 1.20864.
Though the overall trend is Bullish, we may see a pullback before the present resistance level is broken.
There is also a slight possibility that price may return back to 1.16813, so be careful not to jump into a bullish trend without price breaking through resistance level 1.20864.
A breakout of resistance level 1.20864 will most likely encourage the buyers to take price to the next resistance level (1.24815)
4. AUD/JPY
Though AUD/JPY got sellers active last week after hitting resistance level 67.027, however, if you look closely, price lazily rested on support level 64.785 before the close of the market.
A breakout of the present support level is what we should be looking at before taking this trade, and our target profit will most likely be support level 59.941.
That’s all the pairs that would be under my radar this week, though there will always be more trading opportunities in other pairs which I will share as the trading week progresses.
What are your thoughts regarding these pairs?
