We have a number of potential setups this week with GBPJPY looking like the most interesting. The AN, GU and EJ setups identified last week didn’t play out but that’s not a problem as there were no entries anyway. Check out this weeks opportunities below:
CADJPY – Short
CJ didn’t make it to the supply level we were watching last week but the level still looks like a quality one so it’s still worth watching.
EURGBP – Long
EG has been falling steadily recently with a sharp drop occurring last week. Price has dropped down into demand from 2007 with red candles only so I’ll be watching to see what happens. Price has already hit the level in the past so this would be the second touch.
EURUSD – Long
EU has dropped back into demand for the second time. Price didn’t go too deep into the level last time so there may still be some demand here. We’ll find out this week.
GBPJPY – Short
GJ rallied up to supply last week with green candles only which is exactly what I like to see. Now I’ll be watching to see if we get a reversal from this level on the lower time frames.
USDCAD – Long
USDCAD has been rallying for some time now and last week it broke this years highs and created a demand level. There was a strong rally from the zone so I’ll be watching how price returns to it.
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