We’ve seen some major sell offs in the past week across a number of pairs. Whilst sometimes this means you can jump in on the trend, on other occasions it’s time to look for where the market will turn next for longs. This week I’ve got some demand levels marked up for potential longs.
CADJPY – Long
CJ went up as expected from our entry point but it retraced at the end of last week. Some of the members have grabbed profits whilst others are holding for a continued move higher. This week we’ll see what the market decides what to do.
EURUSD – Long
The last few weeks have seen a big drop in the Euro and it’s time to look for longs. If price continues to fall with clear red candles on the daily into the demand below, I’ll be looking for signs of a reversal.
GBPUSD – Long
GU is heading towards the demand level it previous rose from back in January in a strong fashion. If it hits the level it will be the second touch. Profit potential looks good for the moment but an entry would depend on reversal confirmation.
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