Hello traders,
There are some interesting setups lined up this week.
Let’s hit them charts
1. USD/CAD
Last week, USD/CAD finally broke out of a consolidation zone that held price for over two years
Before last week, price broke the same resistance zone four years ago, and before those four years (2020), price broke the same resistance zone four years before (2016)
I see a pattern on the USD/CAD, which is:
In the past eight years we have had three strong breakout, which when it happens, price goes over 600 pips to the next resistance zone. This week we may see at least 400 another pips plus dished out to traders who are patient enough
2. AUD/USD
I spot a breakout below a key support zone on the AUD/USD which happened last week
This week we may see price reach NPSZ, which is about 60 to 80 pips
What say you?
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