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  • Monday 10 February 2020

    Forex Weekly Setups, 10th February to 14th February 2020

    The Previous week had closed with the dollar experiencing some bullish momentum after the US employment change came as positive closing the week in a bullish momentum. this week we will be looking for continued bullish movement on the dollar this week.

    The New Zealand Dollar closed just below the 61.8 zone which is more room to reach the the OTE zone shaded green on the analysis below. currently the pair remains bearish until OTE zone is reached.

    The UsdCad has broke a long time trend last week and had looking on the bullish move we have a small number of order blocks compiled which gives the sellers not much room to move around due to shortage of orders.

    dollar swiss pair looking bullish as has aced through the 0.97250 resistance level and will be looking for a continued bullish movement up to 0.99350 resistance zone and further to the 1.00140 major resistance level. currently we are looking for further buy signals at current levels.

    With the pound sterling being bearish after Brexit was finalized this January we will be expecting to see further selling on the Pound base pairs until the pound finds stability on the markets. on the setup below we have a beautiful head and shoulder pattern in which the market is currently below 61.8 fib level confirming the completion on the pattern.

    Sifiso Nkwanyana

    Author & Editor

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