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:
NZD/CAD:
The price recently broke through a resistance area and is now making a pullback. We’ll be looking to trade long.
We are seeing strong bearish momentum approaching the area, so we will be extra careful when entering the trade. We want to see strong bullish price action to show that bulls are taking control.
NZD/JPY:
Same as the previous pair, the price broke a resistance area. We are not seeing a pullback yet, but that is what we will look for. If we get the pullback, we’ll look for a trade long from the support area.
USD/JPY:
USD/JPY also formed a potential setup. Just like with the previous two pairs, we will look for a potential trade long, from the support area, if the price makes a pullback.
XAU/USD:
Our last setup for the week is going to be Gold. We are looking to enter a long position if we get the price to push slightly lower into the support area. There, we’ll look for bullish price action and a potential trade long.
