Hello traders,
Welcome into the month of December and great setups:
1. GBP/USD
GBP/USD bulls closed last week in an aggressive fashion.
The 200 moving average was broken and the key resistance zone was occupied by the bulls. This week I will be watching out for a bullish breakout which may most likely happen at the close of the daily candlestick on Monday or Tuesday.
If that happens, then price next bus stop will most likely be 1.26422
2. USD/JPY
USD/JPY is within the consolidation band, and also touching the 200 moving average.
This week we may see price form a consolidation within the consolidation band. However if price breaks through the consolidation band, then the next possible support level will most likely be 126.465.
If the 200 moving average also repels price, we may see price retest the previous resistance zone colored green.
3. NZD/USD
NZD/USD bulls are approaching a key resistance zone. The light salmon colored zone may become a key reversal zone this week. If that happens, then price may revisit the previous resistance zone, which will now act as a support zone (colored green)
4. AUD/JPY
On the AUD/JPY, we can see price sitting on a key support zone, and also broke the 200 moving average.
While this week may present us with a temporary pullback, there is a huge likelihood that the key support zone will get broken, and price will head to the next possible support zone marked green
5. CHF/JPY
The key support zone currently holding price may cause a minor pullback this week, or we may see price revisit resistance level 145.488.
However, if the bears pick up from where they left last week and the key support zone is broken, then we may most likely see price hit the next possible support zone market green
What say you?
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