So all the pairs I mentioned in last weeks post had some kind of bounce, with some more significant that others. This week I’ve still got my eyes on a few of them so be sure to check out the details and video below:
CADJPY – Long
CJ hit daily demand which was actually sat inside weekly demand the odds were stacked even more in the favour for the long traders. We saw a large rally out of the area which i expect to continue up until at least the nearest opposing supply, whether or not it goes straight there remains to be seen but we could see a few hundred pips out of the this one.
EURGBP – Long
EG has engulfed a daily supply level and we have daily demand below. If price drops down with red candles only then we could have a long.
NZDUSD – Long
NU has already seen a bounce from the demand we were watching last week and there is still room for price to rally up. If we break above the trouble spot we’ve currently, a continued rally could be in play.
GBPJPY – Long/Short
GJ has bounced from previous demand and has hit supply. An engulf of the supply could see a continued move up and if supply holds then there’s a long way till the next demand. Keep this on the watchlist.
USDCAD – Long
UC has been rallying for months and is heading back to demand. If we see it continue with only red candles, look out for a bounce. Be aware that price is coming from weekly supply at the moment.
Premium members can login to the forum for the detailed analysis which looks at the lower time frame levels we are watching to confirm entries, and the other setups we have for this coming week. This weeks detailed video analysis is here. If you do not have access to the premium content then you can find out how to sign up here.