Hey traders,
Let’s hit them charts:
1. EUR/USD
While EUR/USD is currently resting on a key support zone, and the probability that buyers will come in heavy this week ought to be high, I would rather sit on my hands and watch, because price is below the 200 moving average.
My bias is bearish, and I will prefer to join the bears after the key support zone is broken
2. GBP/JPY
The stochastic points that price is oversold.
Price is resting at a key support level and the 200 ma
For these three reasons, GBP/JPY will be bullish at the beginning of the week. So looking for bullish opportunities to trade before Tuesday (red folder news events) won’t be a bad idea
3. EUR/CHF
EUR/CHF is another setup that looks great.
Though we have CPI news on Tuesday, we can look for buy opportunities on Monday if they present themselves. If we get lucky, NPRZ will be our next bus stop
Mind you, if you could sit on your hands for the entire week, you will be better off than 99.9% of the traders who will actively engage the market, and the simple reason is:
This week (Monday to Friday) has a lot of red-folded news events
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