Hello Traders,
How did your weekend go?
Mine was spent relaxing while monitoring my favorite teams in the EPL and Laliga. In fact, after this analysis, I will be resuming my Chelsea vs Leicester match
Hope yours was restful too?
Alright, let’s hit the charts and see what we could add to our trading list for the week.
1. USD/CAD
The USD/CAD was the primary focus of most traders last week.
This week we could be looking at price re-bouncing off the 1.32562 support level and using 1.33405 as the next possible resistance level.
There is also a possibility of price breaking out of the present support level. If that happens, we could be looking at support level 1.31825 as the next possible support level.
2. EUR/CAD
On the 4 hours chart, the EUR/CAD has a beautiful descending pennant.
Price has broken out from the support level 1.47272. If this bearish move is confirmed as the market resumes later today, there is a possibility that price’s next possible support level would be 1.46289.
3. AUD/CAD
AUD/CAD has an ascending pennant on the 4 hours chart.
Price is almost approaching the 0.89849 support level.
A bullish reversal of price at support level 0.89849 could take price back to 0.90454 as the next possible resistance level.
A bearish breakout from support level 0.89849, may most likely take price to support level 0.89179.
We are done with our weekly analysis.
I wish you a pip-full week ahead
