Hello Traders,
Let’s hit them charts:
1. USD/JPY
USD/JPY spent the entire last week chilling within the consolidation zone.
Judging from the way USD/JPY closed on the daily time frame last week (dragonfly doji), we could be warming up for another strong buy (probably a 200 to 400 pips move)
2. USD/CAD
USD/CAD has had a dramatic drop due to erratic move on the CAD/JPY
Last week CAD/JPY closed strong (bullish), though I am not too pleased with it’s choppy move. So we are most likely going to see a further drop to NPSZ on the USD/CAD
3. GBP/USD
Last week price closed within a place of interest
Price broke neatly into the consolidation zone, so this week, we may see a slight or deep retracement, before price continues its bearish move to NPSL
4. CAD/JPY
CAD/JPY just broke a key resistance zone that was last broken 2007
The breakout may not necessarily be a clean one but there is a huge possibility that this week, buyers are going to push price up 150 to 250 pips
What say you?
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