Last week saw USDCHF continue to fall and whilst some of the Euro pairs rallied, we’re yet to see some big moves. With NFP out this Friday the markets could shake up a bit.
EURJPY – Short
Supply on EJ is still holding. Price made an attempt to move higher but PA for the week ended. I’d still want to see an engulf lower before taking a short as the path is clearer.
EURUSD – Long
After the previous engulf of daily supply price produced a higher high. We’re still waiting for further direction signals on the lower time frames.
GBPUSD – Long
GU has been ranging since the supply engulf so we’re looking for a clearer move this week which could potential be long given the previous PA.
GBPCAD – Short
Last week price engulfed demand on GC and has since rallied. There is profit potential below but it’s important to consider that price has bounced from a previous supply area on the daily so the rally could continue.
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