Hello traders,
let’s hit them charts:
1. USD/CAD
The USD/CAD closed with a strong bullish bullish candlestick on the daily time frame, and on the 4 hour time frame price is close to a key resistance zone.
This could be an ultimate test for the bulls. If buyers break the key resistance zone, it means price may move further up to resistance level 1.31679
If the market resumes this week and reversal candlestick patterns plague the key resistance zone, then there is a possibility that price may re-visit support zone 1.29610 – 1.29448
2. USD/JPY
On the USD/JPY, the market closed with a double top pattern.
The key resistance zone is something to watch out for this week. A breakout means the buyers may most likely take price to the next possible resistance level (138.874)
If we do get a reversal at this point, then we should expect price to re-visit support zone (136.683-136.390)
3. AUD/USD
An expanding ascending channel can be spotted on the AUD/USD, and the key support zone is an important psychological zone to watch out for. If the bears break through, then price may most likely hit support level 0.67663.
However, if the week starts with price bouncing on the present zone, then we may see price revisit resistance zone 0.69552-0.69929
4. NZD/JPY
In the past 3 weeks, price has re-visited the base of the key support zone (84.348) for the fourth time.
The support zone at this point should find it more difficult holding back the bears. If this zone fails, we may see the bears hit the next possible support zone (83.148-83.467)
There is also a tiny possibility that price may bounce off the current zone. If that happens, then the previous resistance zone (85.145-85.292) is a possible bus stop for the bulls.
What say you?
Traders who are interested in joining our FREE trading group on Telegram, where trade ideas and trade-related topics are discussed, which could assist your trading career while being infected by positive vibes
hit us on Pip Crafters
