Hello traders,
let’s see what the market has for us this week.
1. USD/CAD
Last week USD/CAD broke the key support level of an ascending trendline, and is currently resting on a key support zone.
There is a possibility that price may reverse at the current zone and revisit resistance level 1.26018. We could also see price break the current support zone and go further down to hit the first and second support level (1.22910 and 1.20390)
2. EUR/CHF
The minor support level (1.01852) on the EUR/CHF may not hold price for long since price reversed at the 61.8% retracement level last week.
This week I will be waiting for a selling opportunity that will take price to support level 0.99738.
3. AUD/JPY
AUD/JPY broke a key resistance zone last week. The last time bulls were this daring was December of 2012.
I anticipate a huge buy this week and we may see price hit the next possible resistance level (94.407) which is over 250 pips
4. XAU/USD
Gold looks interesting this week.
Price spent the most part of last week consolidating within the consolidation zone. On Thursday last week the bulls broke the consolidation zone and formed a doji on Friday
This week we may most likely see Gold start a long journey to the north till it hits the next possible resistance level (2049.55) which is over 900 pips to be made
What say you?
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