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  • Monday 3 December 2018

    Forex Weekly Setups, 3rd December To 7th December 2018

    We had a very good trading month on November, in the closing of the month we have noticed some indications and market moving speech which have caused the dollar index to make some very great losses as the Index plummeted on Thursday after the speech made by the member of the Fed.


    We have a very beautiful head and shoulder pattern formation which was done by the market last Friday after the Canada GDP data release. we will be looking to sell UsdCad at market open. our target for our UsdCad Trade is 1.31200


    We believe that many traders who followed our previous week Cad Setup had a very successful trading week as the pair plummeted last week as Fed gave a negative speech on the interest rates causing a very huge drop on the US Dollar base pairs.
    Previous Trade Setup

    We have been Bearish in trading Gold recently until the market made some bullish indications, we will be looking for a breakout to the upside having 1297 as our trade target.


    We have bullish order blocks below the current market levels, we are much likely to see price reverse towards the Bullish Order Block Level before seeing further buys on the this Currency pair.


    The South African Rand has shown some magnificent recovery in the past two months after suffering yearly losses, we are expecting the rand to reach level 13.06 as our measured potential target on the pair.

    Previous Trade Setup

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    Sifiso Nkwanyana

    Author & Editor

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