Helloo Traders,
It’s been a slow week in the market over here, how has trading been for you?
There are some setups under my radar, two may play out this week since they are on the daily chart, however, one should most likely yield pips this Wednesday if our analysis is not trashed by the market.
Let’s hit the charts ladies and gents…
1. AUD/USD
The AUD/USD is free-falling. That said, price is gradually reaching a key support level (0.68348) on the weekly chart.
Let’s see if we get a reversal signal or a breakout when that happens.
If price breaks out, our next possible support level would be 0.67541 and if price reverses, a resistance level that could be visited by the Bulls would be 0.69266.
2. NZD/USD
NZD/USD has the same outlook as the AUD/USD.
Price reversal at support level 0.65672 will most likely send price back to resistance level 0.67500, and a breakout will most likely encourage the sellers to push price to the next possible support level 0.64318.
3. AUD/NZD
The AUD/NZD on the 4 hours chart seems to be almost out of a consolidation brawl.
Though I have a bearish bias regarding this trade, I still believe it’s too early to conclude. I would rather wait for the daily candlestick confirmation before making any decision.
If we get a bearish confirmation later today, we most likely would be seeing price hitting the next possible support level (1.03198)
That’s all we have for today folks, thanks for hanging around and do stay blessed
