Last weeks technical articles achieved a 100% success rate in our weekly Forex commentary, having to see the dollar experiencing some major pullbacks before the market closed on Friday evening, This week we will be looking on new opportunities in which we will be looking to make some profits out them.
Fundamental Outlook
This week we have a very few fundamental trade opportunities to trade which comply with our fundamental direction strategy, the fundamentals are as follows.
1. Prelim GDP (USD), On Thursday we looking for a Bullish impact on the USD as the previous is below the Estimate Average Range.
2. GDP (CAD) , On Friday we looking for a Bullish impact on the CAD
UsdCad
The dollar cad pair has faced a lot of rejections at the 1.33400 resistance zone in the last two weeks which has resulted on a sell off happening on Friday due to the dollar sell off. the pair continued on the sell as markets upened this morning.
Technical Setups
Below are the technical trade setups we will be looking to trade during the week.
UsdCad
The dollar cad pair has faced a lot of rejections at the 1.33400 resistance zone in the last two weeks which has resulted on a sell off happening on Friday due to the dollar sell off. the pair continued on the sell as markets upened this morning.
UsdChf
The dollar Swiss has been consolidating below the 0.98150 area for the previous week after it had rallied from the 0.96800 support zone, Friday it experienced a major sell off and was able to quicky recover as the markets opened.
UsdJpy
The dollar Japanese yen is currently at a bullish stance with price at the 106 support zone looking forward for price reaching our 108.400 target area.
GbpCad
The market sis currently moving on a bullish trend channel, the last candle as shown on the analysis below is a bullish outside bar which shows a high bullish potential on the market place to push price back up to the OTE area before experiencing sells on the pair.
GbpJpy
There is a very great opportunity on the Pound Yen pair for buyers as the pair has an inverse head and shoulder pattern together with bullish price action buy candles which includes pinbars and outside bar that has just formed on the currency pair.
We believe that these setups will help you prepare for a more successful trading week, please use proper risk management skills to help you trade more profitably, all the best from the Ajaxsurf team.
UsdJpy
The dollar Japanese yen is currently at a bullish stance with price at the 106 support zone looking forward for price reaching our 108.400 target area.
GbpCad
The market sis currently moving on a bullish trend channel, the last candle as shown on the analysis below is a bullish outside bar which shows a high bullish potential on the market place to push price back up to the OTE area before experiencing sells on the pair.
GbpJpy
There is a very great opportunity on the Pound Yen pair for buyers as the pair has an inverse head and shoulder pattern together with bullish price action buy candles which includes pinbars and outside bar that has just formed on the currency pair.
We believe that these setups will help you prepare for a more successful trading week, please use proper risk management skills to help you trade more profitably, all the best from the Ajaxsurf team.
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