Today is an interesting day, we have a few strong setups forming on GBP/USD, EUR/USD, and USD/CAD.
GBP/USD and EUR/USD are showing a very similar long reversal setup from support. However, if you have been checking your economic calendar you know that the FOMC is going to release the federal funds rate later today…
…This release is likely to cause a big move on USD pairs, which would effect this setup. So please trade with extreme caution.
We are seeing a strong short set up on the 2D (two day) USD/CAD chart, but it can also be traded on the 1D.
And finally the potential EUR/GBP short from yesterday is still a potential trade. I will be keeping a close eye on this pair for the remainder of the week.
Have a great day everyone!