Hey traders,
Sorry for posting my analysis this late. I am sure we are already used to “Analytical Sundays”, but hey we are still on track.
Let’s hit them charts.
1. EUR/USD
We can see triple tops on the EUR/USD, and I know many will be tempted to sell, but I will advise us to stand down for a bit because of the higher lows formed.
Currently, there are a lot of buyers accumulating on the EUR/USD, hence we have a higher probability of price breaking the 1.16674 resistance level. If that happens, price next resistance level would be 1.17436
For the less conservative traders who want to sell at this point, support level 1.16364 will most likely be revisited if price reverses.
2. GBP/JPY
A strong bullish engulfing candlestick on the GBP/JPY shows that we still have buyer’s presence in this pair. Though I will not advise that you trade it now because of the poor risk-reward ratio.
We would need a slight pullback before we join the buyers and ride price to resistance level 157.435
3. NZD/JPY
NZD/JPY is still bearish from last week. Currently, we can see price forming lower lows further support our bearish bias.
I will be waiting for price to break the 81.093 support level before taking this trade, and probably riding it to the next possible support level (80.107)
What say you?
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