Hello Traders,
How has your weekend been and how has the month of August treated you in your trading career?
Most parts of my weekend was spent reflecting upon life and how ephemeral it could be.
Chadwick Boseman’s death gave me so much to think about as myself and most fans around the world had no clue that he was battling with colon cancer all this time he was giving us blockbuster movies.
He was only 43, he had every reason to stay away from acting and take care of himself, but he didn’t.
He instead spent the most part of his healing/recovery period to empty his genius for us all to enjoy and get inspired.
One lesson I took from the whole tragic incidence was that:
We all have a limited time in this world, and we all have our problems, but we should never allow our setbacks to define or limit us.
We should always strive to give more, irrespective of the circumstances life dishes at us.
With that, let’s see what the market has in store for us this week…
1. NZD/USD
NZD/USD started a bullish run after retesting support level 0.6603.
Last week we saw price break resistance level 0.67150 and this week I am looking forward to seeing how price reacts after hitting the next resistance level (0.67570)
A reversal may most likely send price back to support level 0.67150 and a breakout will most likely encourage the buyers to take price to the next possible resistance level 0.68171.
2. NZD/JPY
Price on the NZD/JPY is heading towards the pink resistance band. That’s a huge test for price this week.
A breakout will most likely encourage more buyers to push price to the next possible resistance level (72.904) and a reversal within the resistance band may send price back to support level 70.586.
3. GOLD (XAU/USD)
We saw price on Gold finally break the resistance level 1950.46.
If market resumes with the Bulls still dominating the market, we may most likely see resistance level 2014.09 get hit.
Personally I may wait to see if I could get a decent pull-back before supporting the Bulls
What are your thoughts?
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Thanks for your time and do have a great weekend ladies and gentlemen.
