[Week 17 - 2020] Trades Recap and Trade Setups

Good day Trainee Traders,

All the markets seem to be in the consolidation phase other than Gold. With Kim Jong Un reportedly in the critical phase. It will be crucial what North Korea next step will be. (his sister looks scary).

DXY

We have an engulfing on a rejection of trendline. We can potentially see further upside on the upcoming week.

Trade Recap USD/CAD

Reasons: Double top pattern with neckline broken

Rejection candle at neckline - support turned resistance

Trade Setup

EUR/AUD

Broke consolidation period

Potential retest of previous support turned resistance area.

Bearish outlook

AUD/JPY

Respecting uptrend line.

Approaching resistance.

Looking to long once resistance is breached

That is all for this week post. Trade safe but most importantly stay safe all!

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