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 setup of the week is going to be GBP/CHF. The price has been moving sideways for a long time, but it finally broke a strong support area last week.
The price has already made a pullback and has shown us rejection of the area. We’ll enter the trade once we get a break of the 4h trend line.
Our next setup is NZD/CAD. The price is overall in a downtrend and has recently broken a previous low which is now our resistance area. The price has made a pullback back into our new resistance area and is showing signs of rejection.
We will once again drop to the 4h timeframe and wait for a break of the trend line before entering the trade.
AUD/CAD is almost identical to the previous setup in terms of price action. The price is in a downtrend and it recently broke the previous low, which is now acting as the resistance area.
The price made a pullback and is showing us rejection of the area. We’ll look for an entry on the 4h timeframe after the break of the trend line.
Our last setup is another potential trade short. The price has made a pullback into a resistance area. We are not seeing any signs of rejection or bearish price action, we’ll be looking for that in the upcoming week. If we get it, we’ll of course look for an entry short.