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  • Tuesday 6 October 2020

    Forex Weekly Setups, 5th October To 9th October 2020

    With President Donald Trump being diagnosed with The Coronavirus the market experienced a big hit last week as we saw a sell in a number of major stocks which negatively affected the dollar index last week.

    Fundamental Analysis

    Unemployment Change (CAD) : We are expecting a Bullish move on the CAD as Unemployment was critically low and the economy is currently opening a number of sectors.

    Technical Setups
    Below are the setups for this Trading week.

    The Euro Dollar pair has been bullish from last week as price has moved up by close to 200 pips as the dollar responded to trump being diagnosed by the coronavirus. on the setup below the Euro Dollar is currently on it way up towards the Fibonacci OTE sell zone in which we will be looking for sell setups.

    We have been holding buys on the dollar yen pair, price has rebounded on the support and shown a lot of respect to the level which led to the pair pushing up, currently we are looking for price to break above 105.800 and having 106.650 at a target.



    Sifiso Nkwanyana

    Author & Editor

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