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Week 14 - 2020. Trades review and trade set ups

Good day Trainee Traders,


We are now at Q2 of 2020, and things are not looking good. Weak job report, higher employment due to the corona virus and the rising tension between the oil producing companies. The Canadian dollar will be one of the highest impact currency in this coming week due to the oil tension, OPEC meeting and CAD unemployment reports.


Trade Recap


EUR/JPY

Reason Head and shoulders pattern (bearish) Neckline = previous resistance turned support with a retest (bearish)


Reached TP effortlessly and price may face a retracement next.


Trade Setup


USD/CAD

One of the key currency to look out for next week. Price is in a consolidation price will most likely have confirmation for next week. My bias is towards the upside.


SOYBEAN

Price has broke out of the range as we have several retest towards the downside. Short opportunity as price retest the new support turned resistance @ 8.51


That is all for this week. Trade safe!

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