Good day traders,
Let’s see what the charts have for us this week.
1. GBP/USD
Since last week Wednesday, the bears have been raging. So far all key support levels met by price have been broken
Before the close of the market on Friday, price broke a key support area (1.38112). All we should be looking out for this week is a bearish confirmation, before joining the sellers to ride price to the next possible support level (1.37133)
2. EUR/JPY
Will the bears in EUR/JPY continue their journey to support level130.060?
A bearish confirmation will be needed before joining the sellers this week.
3. CAD/JPY
CAD/JPY broke a key support level of an ascending trendline that has held price since January this year.
The key support zone is the only thing holding price for now. A breakout through it may most likely give us the go-ahead to join the sellers to the next possible support level (87.329)
If the bears are strong enough, we may see price go all the way down to our second possible support level or target profit (86.081)
4. XAU/USD (GOLD)
Some traders enjoyed the bearish move on Gold last week.
This week we may see a continuation of the bears in the market if support level 1763.49 is broken.
If 1763.49 get’s broken, our next possible support level will most likely be 1679.62
What say you?
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