Hello traders,,
let’s hit the charts:
1. GBP/USD
On the daily time frame of the GBP/USD, price has hit a key resistance level.
For intraday traders this could mean looking for short-selling opportunities if all the requirements for a trading strategy are met, and for a swing trader, an additional confirmation will most likely be needed before buying or selling.
If the key resistance zone is broken, then our next possible resistance level would be 1.38323, and if a reversal is confirmed, our next possible support level would be 1.36955.
2. AUD/USD
The key resistance zone on the AUD/USD will be a zone to watch out for this week.
There is a huge possibility that we may see a reversal which may return price to support level 0.71301. If we are going to buy this pair, then it’s important that the key resistance zone is broken first
3. AUD/JPY
The AUD/JPY looks exactly like the AUD/USD.
If the bulls continue pressing this week, price may hit 81.398, however, if we do get a reversal, the sellers may pull price back to support level 78.191
4. XAU/USD (GOLD)
Gold closed with a strong bullish candlestick on Friday and also managed to break a key resistance level (1816.14)
If the bulls resume this week with last week’s intensity, then price may hit resistance level 1831.59
What say you?
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