We are in the second week of the month from a very profitable first week as we had made profits on the dollar gaining strength, and we believe this week we will be having more successful trade positions.
This week we will be launching a software that will help traders identify Candlestick patterns and the first ever software to help Spot Institutional Order Blocks and important trade levels.
Fundamental Analysis
This we not having much Fundamentals as the previous week, we are currently focused much on the CPI and Employment Change towards the end of the week.
1. Wednesday: CPI (USD), We expecting a Bearish USD as both the Previous and the Forecast are above the Average value
2.Friday: Employment Change (CAD), its a difficult call to analyze as due to recovery of the country from covid 19 impact. but we are expecting a bullish CAD on the news event
Technical Analysis
This week we have more trading opportunities as shown on our trade setups below
UsdCad
The dollar CAD pair is one of the hottest pairs to trade this week as we are expecting the CAD employment change news to be released on Friday which will have a drastic impact on the pair. on the trade setup below the market has broken the downtrend and completed retesting leaving a pin bar candle at retest zone indicating a bullish trend for this week.
ChfJpy
The Swiss Japanese Yen Pair has found a very strong resistance at 116.300 which has played as a major barrier in the recent weeks. the market has currently broken the current trendline and done a retest and is expected to sell during the week.
XauUsd
Gold spot has been falling with its current channel and its currently moving down to the channel support. currently we will be looking for sell opportunities in XauUsd.
UsdJpy
The Dollar Yen pair has been on a bullish run since mid-Feb and we are still expecting a continued move up until price reaches the order block marked by the red Horizontal line or OTE zone marked with a pink highlighter.
We believe that these trade setups will help you trade the market more profitably, we wish you the best trading this week and make sure you join our premium group and get our Software for free.
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