Good day great traders,
It’s another opportunistic day for us traders, there are some promising setups that are lazily waiting for us. Let’s grab our guns and bows and head right into the fx forest, we got some pips to hunt.
1. EUR/USD
EUR/USD is finally playing according to our weekly trading analysis which was given on Sunday.
This is a straight forward analysis. A key support level (1.13010) has been broken, we most definitely would see a pullback before the bears kick in. The next support level we could be seeing is 1.12170.
2. USD/JPY
USD/JPY on the daily chart is currently touching a resistance level (113.897) within a pennant.
If the 11 pm candlestick closes with a breakout, USD/JPY may start another bullish run to support level 114.572. On the other hand, if the present resistance level is not broken, price may fall back to a previous support level (112.893).
Don’t forget, its a daily chart, great patience is required to pull off this setup.
3. CAD/JPY
CAD/JPY is still indecisive on the daily chart, but on the 4 hours chart, we can see price resting on a key support level (85.396) which I also call and INTERSECTION.
A bearish breakout would most likely send price to the next possible support level (84.579). If a bullish reversal occurs, we should see bulls take price above level 85.902.
NOTE: Like I always say… There is no 100% sure trade. Apply strict money management rules on all setups given. Wishing you guys all the best
Do have a great day ahead.
