Analytical Sunday presents us with GBP/USD, EUR/USD, USD/CHF, AUD/USD & EUR/JPY

Hello traders,

Some pretty good setups to watch out for this week.

Let’s hit the charts:

 

 

1. GBP/USD

The bears took charge last week Wednesday, and ever since we saw a steady fall of the GBP/USD

on the 4 hour time frame we can see a head and shoulder pattern formation. A breakout below the neckline means price may gift traders over 400 pips the first few days of the week

 

 

2. EUR/USD

A head and shoulders pattern formation can also be seen on the EUR/USD

Price has broken the neckline already. All we have to do is look for bearish entries and ride price to the next possible support level (0.95621)

 

 

3. USD/CHF

For close to two weeks, price has been consolidating on the USD/CHF.

Friday closed with a bullish breakout on the daily time frame. Our aim this week will be to join the buyers and ride with them to the next possible resistance level (1.00479)

 

 

4. AUD/USD

For two weeks AUD/USD consolidated within the consolidation band. Last week Friday price broke the consolidation band at the close of the market.

This week there is a high possibility that price will continue its bearish run to the next possible support level (0.60006), which is over 350 pips away

 

 

5. EUR/JPY

EUR/JPY broke a key support zone at the close of market on Friday.

This week we may see the bears pull price down the the next possible support zone

 

What say you?

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