Hello traders,
how is your weekend so far?, hope great?…
Going through my charts, I was disappointed that there are not plenty quality setups, but I believe as the week unfolds, it may most likely present some great trading opportunities.
Without further delay, let’s check out two setups which may play out.
1. EUR/JPY
EUR/JPY bulls spent the entire Friday trying to break a key resistance zone after breaking out of a descending expanding channel, but they flopped.
This week we may see the bulls continue their struggle from where they left off. If they succeed in breaking the resistance zone, then we could join the bulls and ride the trend to the next possible resistance level (144.084)
If for any reason the bulls resume the week feeling uninspired and the current support level is broken, then our next possible support level would be 139.456
2. EUR/GBP
On the EUR/GBP, we can see an ascending trendline serving as a support level, and price is locked within a key resistance zone.
This week, I will be watching out for how price reacts to the 1st possible resistance level (0.86150). Only if a breakout happens will I join the buyers to the next possible resistance level (0.86897)
What say you?
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