Hello guys, welcome to this weeks market analysis where we cover the setups that we are looking at for the upcoming week.
Weekly trade ideas and analysis:
Our first pair of the week is going to be CAD/JPY. Overall, the price is in an uptrend and has recently broken a resistance area. We’ll be looking for a pullback back into that area and a potential continuation trade long if we get bullish price action.
Our next setup is EUR/JPY. Similarly to our previous setup, we’ll be looking for a continuation trade long after the breakout we saw last week. We’ll again wait for a pullback and bullish price action before entering.
Our last setup of the week is NZD/USD. We already covered this setup last week, but we didn’t get the breakout that we were looking for. The setup is still valid. We simply moved our trend line, according to the price action from the previous week and are now waiting for a new break below it for an entry short.