EURUSD
Daily chart showed EURUSD has been consolidating in a rectangle pattern since early Apr 2020. Last week it rebounded off its SR zone at 1.0768-1.0793 to form a bullish piercing candle but end the week with an indecision spinning top candle.
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| EURUSD Daily Chart |
I believe EURUSD will continue to move sideways but I expect it to move higher short-term to its next opposing SR zone at 1.0981-1.0991.
Next week I will be looking for a buy setup on EURUSD 4-Hour chart.
GBPUSD
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| GBPUSD Daily Chart |
Daily chart showed GBPUSD has been trading in a bullish ascending triangle pattern since early Apr 2020. Last week GBPUSD formed an indecision candle at the ascending triangle lower line to suggest it is holding as support. I believe GBPUSD is likely to move higher to test and possibly break above its ascending triangle upper zone at 1.2595-1.2647.
Next week I will be looking for a buy setup on GBPUSD 4-Hour chart.
USDCAD
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| USDCAD Daily Chart |
Daily chart showed USDCAD has been trading in a descending triangle pattern since late Mar 2020. Last week USDCAD formed a bearish engulfing candle near its descending triangle upper line. I believe USDCAD is likely to move lower to test and possibly break below its SR zone at 1.3856-1.3878.
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| USDCAD 4-Hour Chart |
Next week I will be looking for a pullback sell setup on rally to potential support become resistance SR zone at 1.4008-1.4031 on USDCAD 4-Hour chart.
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.
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