Hello traders,
It’s a brand new week, let’s hit the charts:
1. GBP/CHF
The bears were strong last week on the GBP/CHF
So strong that they broke the 200 ma without much stress. I will be focusing my attention on the key support zone. If it gets broken, then price is most likely to hit the green zone.
However, if we start the week with the bulls dominating, then we have to be sure that the 200 ma gets broken before we jump in to the trade and ride it back to NPRZ
2. GBP/CAD
This is one trade I took last week, and I am still holding it (though currently negative).
The key resistance level and 200 ma on GBP/CAD is still valid.
We saw a huge retracement last week. This week there is a huge probability that the bears will come out to play, and if they do, this may be another long journey to NPSZ. I can’t wait to see how it materializes
3. AUD/USD
Head and shoulder formation can be spotted on the AUD/USD.
The 200 ma has been tested trice, and price is currently locked within a consolidation zone. This week I will be looking for a break below the key support zone (neckline), and if that happens, NPSZ is our next bus stop
4. NZD/USD
On the 4 hour time frame of the NZD/USD there is an opportunity to make a quick buck.
The ascending trendline also serving as a support level has support price over 5 time in almost a month. Last week the key support zone almost gave way, but the 200 ma saved the day.
This week all I will be looking out for is price breaking the KSZ or KRZ. Once that happens, NPSL or NPRL will be price next possible bus stop
What say you?
NOTE:
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THE FUNDED TRADER: https://dashboard.thefundedtraderprogram.com/purchasechallenge-n/?sl=3322 (use the coupon code: THE0CRAFTER)
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MY FUNDED FX: https://myfundedfx.tech/purchasechallenge/?sl=758
