We saw some strong moves in the markets last week and we’re looking to capitalize on them this week since a number of pairs have reached key levels. Once again it’s mainly pound and euro pairs this week so check them out below:
EURGBP – Long
Price is heading down to a daily supply level which is also a QM level. We’ve got red candles on the way so far so if that continues then I’ll be looking for a potential long trade from there.
EN has created a demand level with a very strong move away. Price rallied over 900 pips from the zone so it’s definitely one to watch.
EURUSD – Short
The closest level on EU at the moment is still the supply level mentioned previously. If we see green candles going into the level, we’ll take a closer look for a short.
GBPAUD – Short
After the great long trade we had last week, price has reached supply and is already falling away so this week we’re on for shorts.
GBPJPY – Short
GJ has rallied to a supply level highlighted a few weeks ago and has done so with green candles only. If we see PA that meets the rules then we’ll be short on this one too.
USDCAD – Short
USDCAD looks set to continue to fall and if it does so with pure red candles then I’ll be looking for a long from the demand level below:
USDCHF – Short
USDCHF has been rallying and is heading towards supply which is also a swap zone. If it continues the rally with green candles only then we could have a short.
Members can click here for the detailed analysis which looks at the lower time frame levels we are watching to confirm entries. We also analyse the markets for further trades throughout the week. If you do not have access to this premium content then you can find out how to sign up here.