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 potential setup of the week is CAD/CHF. On this pair, we saw the price break a strong resistance area.
We’ll be looking for a pullback back into the S/R area for a potential trade long.
Our second and last potential setup is GBP/USD.
Here the price broke below the support area and has made a small pullback once before. The price made a small bounce from the area and came back to the support area for the second time.
That gave us a double top pattern, which is a bearish pattern. We’ll be waiting for bearish price action, which in combination with the double top pattern would make for a great short trade opportunity.