This pair is currently in an Uptrend breaking the previous Daily Resistance Zone (78.490) and moving 300+PIPS to the upside. The market is heading to an area that I consider to be Monthly Resistance Zone (Brown Zone). I'll be looking to short in the brown zone.
Short term outlook is that I'll be looking for long positions towards the Monthly Resistance Zone....
This pair is currently in a downtrend, but like GBPCAD, it is now pushing down towards a level of structure that is a major level. This is a level that could provide a nice counter-trend bullish bounce out of the NZDJPY. For this reason, I will be looking in this grey area this week for possible long trades.
Weekly Support Zone (Grey)= (61.180-63.00)
Happy Sunday Traders,
This pair is currently pushing down very strongly on the daily chart and is approaching a Weekly Support Zone. This is an area that GBPCAD has tested multiple times in the past as support and is possibly an area that we could see a nice counter-trend bullish bounce out of this market. For that reason, I will be looking in this area for...
This is tweeter short term long bias.
Price have reached to the previous weekly strong demand and that is not easy to break. It takes some time. Hopefully market may show us some pullbacks. So good time for catching small demand rooms to earn some pips.
Enjoy the weekend.