Good day traders,
Let’s see what the market has for us:
1. USD/CAD
USD/CAD may still be bullish based on last week’s analysis
But, the bulls are not out of the woods just yet. The 200 moving average is just above price, and at a key resistance zone.
This week I will be waiting for Monday’s price close, to see how price reacts to the key resistance zone/200 ma. A reversal candlestick, would mean sellers are warming up to possibly roast the buyers, and NPSZ could be price next bus stop
2. USD/JPY
USD/JPY gave a strong bullish breakout last week, only for Thursday and Friday to present a seemingly false breakout.
This week, I will be watching out for Monday’s daily close, to access if the sellers are serious minded with the false breakout, or just giving buyers high BP.
If we do get a convincing close below the key support zone, then I will join the sellers and ride price to NPSZ
3. GBP/CHF
For two weeks plus now GBP/CHF has been consolidating.
My only interest this week will be to see price go below the key support zone. If that happens, then I may most likely join the sellers to NPSZ
What say you?
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