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Happy weekend TTs,
The corona-virus seem to be escalating and the rest of the countries are raising their awareness. Non-farm payroll report has been better than expected. Now let me dive down into the trade recap for this week.
NZDCAD
Entered short for the NZDCAD pair as bearish signal is too strong to skip this trade.
Reason: Head and shoulders pattern. Price reversed to test previous neckline and got rejected. Retested previous resistance turned support.
EURUSD
Very similar to NZDCAD!
Reason: Head and shoulders pattern. Price reversed to test previous neckline and got rejected. Retested previous resistance turned support.
GBPJPY
Has been trading in the range for the longest period ever! I am getting impatient! However during last week, the GBP has signs of weakening.
Reasons: False breakout of trend line (bearish) Weakening of the pound
Trade Setup
AUDUSD
Reaching the key support level of the recent swing low and we will be observing of confirmation to the either side during this upcoming week.
NZDCAD
Price has potentially slid to the next support point. However if price managed to retrace and test the new resistance level with candlestick bearish signal, I will go short OR enter long if there is confirmation at the next support level with candle stick confirmation.
Happy and safe trading!
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