Hello traders,
this week is filled with quite a number of trading opportunities.
Let’s hit the charts ladies and gentlemen:
1. USD/CAD
On the USD/CAD price has consistently formed higher lows and higher highs
On Friday we saw price close within the key resistance zone. If the bulls are strong enough this week, we could see price break the 1.25943 resistance level before continuing to the first possible resistance level (1.27085)
2. USD/CHF
The strength of the buyers on the USD can be evidently seen in the USD/CHF.
Price is a few pips away from the key resistance level. A reversal will most likely take price back to support level 0.90772, and if price breaks through resistance level 0.91822, then we may see resistance level 0.92205 get hit
3. USD/JPY
There is an expanding descending channel formation on the USD/JPY, and price closed on a key resistance zone.
If the buyers lose their bullish steam this week, we may most likely see price return to support level 109.790.
4. GBP/USD
GBP/USD managed to break a key support level (1.38847) before the close of the market on Friday.
If we do get a sell confirmation, our next target will most likely be 1.38000
5. AUD/USD
Ascending channel formation on the AUD/USD, and price is resting on a key support zone.
If the market resumes with the bears still in control, we may see price hit the next possible support level (0.72910). However, if we do get a reversal at the present support level, resistance level 0.73887 may be revisited.
6. NZD/JPY
With the NZD/JPY closing with a bearish engulfing candlestick at a key resistance zone, there is a possibility that price may hit the next possible support zone (76.542 – 76.230) this week
What say you?
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