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  • Sunday, 7 April 2019

    Forex Weekly Setups, 8th April to 12th April 2019

    Last week has been quite a challenging week with too much consolidation for most of the pairs, we believe that most of you have been able to bank some very good profits last week on trading the Non Farm Payrolls event together with the Canadian Employment change data.


    EurUsd

    Euro Dollar currently sits on on a strong support level, in which we will be looking to experience a buying pressure which will push price up. the current pattern formation we have is a head and shoulder pattern.


    GbpCad

    The Pound CAD has broken out of its weekly trendline and making it way below its previous lower lows which opens a way for the bears to push the market lower.


    Gold

    The XauUsd has been showing a lot of bearish activity in the past week after priced faced a very strong sell off at the Order block level. currently the market is at 1290 which acted as a minor support previously and we will be much likely to see a number of buys at the zone. A close below the 1290 level will bring selling on the pair.



    CadJpy

    CadJpy is sitting on a minor support zone(Neckline) and we will be looking for price to retrace back up to 83.750 before beginning a long term sell off.


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    GbpJpy

     The Pound Yen is currently bearish as price has broken down from a trendline and below the Optimal Trade Entry zone which will definitely cause more selling pressure on the currency pair.


    We wish you the best this week and please remember to always stick to a proper risk management in all your trades and trade with a very trustworthy brokerage firm.

    Sifiso Nkwanyana

    Author & Editor

    I hope you have recieved all the information you seek and thank you once more for browsing our website we hope to hear from you soon.

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