Monday, 18 February 2019

Forex Weekly Setups, 18th February to 22nd February 2019

We had the market closing  very well on our side last Friday as we have seen the Dollar index sell Off as was expected on our previous Forex Weekly article. we will be looking much on XauUsd as we expecting it to break above the 1330 zone to reach 1345 which has been our long awaited zone in the pair.


AudChf

We have a very good selling setup on AudChf as price has formed a Head and Shoulder pattern, we will be expecting price to push up towards 0.72200 before having get into our long term sell positions. 

GbpCad

The Pound Canadian dollar pair has formed a false double bottom setup which I will recommend not to follow due the institutional order flow present in the currency pair, the double bottom will be validated by a break above 1.71900, we are currently bearish on the pair as shown on the attached analysis.

XauUsd

Gold has pushed above 1310 which has been a play ground for the market as price has been consolidating in the region for the past two weeks, this week price price has pushed above 1320 which has been our OTE level  and we will look for price to reach our last highs 1345 - 1360 zone before a major sell off pushes price back to 1220 long term support zone.

UsdChf

Dollar Swiss has played incredibly well in the past week as we have seen price getting rejected at our long measured supply zone. this week we are much likely to see price breaking little bit above the previous highs before we see more sells, on the sell zone.


UsdCad

UsdCad has been one of the pairs which has most of our attention this week as we will be looking to invest much on the Friday, 22 February retail sales news event. we are very much anticipating a very strong move on the Canadian dollar pair.



Sifiso Nkwanyana

Author & Editor

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