Hello Traders,
How is everyone doing?
How many of us are still trading and how many are standing by the sidelines?
Personally I will be off the market till January next year, however, I will still be sticking to my sports trading as December is lined up with plenty of football matches. I believe it should be one of the busiest months of the year.
That said, I will still be tracking the market and sharing my analysis and bias through the daily and weekly analysis if there are good setups.
So, today we will be looking at 3 pairs that could put some gold coins in our purse.
Are you ready?
Ok…
1. EUR/USD
On the 4 hours chart of the EUR/USD, we can clearly see a triple top.
Presently price is resting on a minor support level (1.11163). A bearish breakout would mean price next support level would be 1.10732 and if price reverses at the present support level, we could see it head back to resistance level 1.11689.
2. NZD/USD
NZD/USD gave hope to the anxiously waiting bullish community that it was heading to the next possible resistance level (0.67867), only for price to fizzle out as the market came to a close on Friday.
Presently we are looking at a bearish pin-bar which signifies that bears are warming up.
In my opinion, if we allow another daily candlestick to close, we should get a clearer picture of where the market is heading to.
If the reversal is confirmed, we could be looking at 0.64850 as the next possible support level, and if the bearish pin-bar was a hoax, then our next possible resistance level would be 0.67867.
3. NZD/JPY
In my opinion, NZD/JPY may find it hard to break through the consolidation band…
But…
What do I know? anything could happen in the market. If price is able to break through the band, we could be seeing price go on a bullish rampage to the next possible resistance level 74.972.
If not, price may just retest support level 71.380 before heading back to the consolidation band.
That’s all we have for today folks, what’s your view about these setups?
Alright ladies and gentlemen, see you guy’s during the week for more reviews of your favorite pairs.
Do have a great week ahead.
