Hey traders,
I spot some great setups this week. Let’s hit the charts:
1. NZD/USD
On the NZD/USD, we saw a strong bullish move last week that took price to a key resistance zone. Meaning there is a likelihood that price may reverse and retest support level 0.70051.
However, if the bulls continue with last week’s momentum, and the resistance zone is broken, then price will most likely move to the next resistance level (0.71541).
2. AUD/USD
I shared this AUD/USD analysis last week, yet the setup is still valid this week. It’s a daily setup remember, and all we need to see is price reaction around the key resistance zone.
If we do get a reversal setup on the daily time frame, price may revisit support level 0.73456, but if the bulls are aggressive this week and the resistance zone is broken, then price next destination would be 0.76013
3. GBP/JPY
The weekly GBP/JPY look’s interesting.
Resistance level 156.017 is a critical level that has continued to reject price since January 2018. Resistance level 156.017 was finally broken by aggressive buyers last week, meaning price will most likely hit the next possible resistance level (159.759).
That said, price does not move in a straight line, so we should expect a pull-back before price continues its journey up.
What say you?
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