Monday 30th of May

Good morning folks! I hope you enjoyed your weekend!

Here’s my watch for today!

CAD/JPY

Waiting for a clear U shape to be honest, I’m not the biggest fan of sideways price action like what we currently have

GBP/AUD

Pound Aussie reached the area of supply on Friday without giving us a valid entry – it remains on my watchlist in case we get a double top formation, but it may play out as it currently is shaping up, which to be honest would be fine for me, I’ll be interested in a potential long if it does later on 🙂

GBP/JPY

Pound Yen is quite similar to CAD/JPY, we’ve reached the area of supply for our potential short however the price has been going sideways without really saying anything since it got there, I for one dislike that type of price action so I’m staying out.

We spent more than 24hours going sideways hence I didn’t take the script that occurred earlier today

Might as well share the USD pairs as well, even tho I doubt they’ll amount to much today I’m guessing, would love to be proven wrong so let’s do it

USD/CAD

Dollar Canadian has been floating above the area of demand for the entirety of the second part of May – there’s not much we can do about it aside from remaining patient and sticking to the sidelines until a clear signal is given to us

It is in a rather clear range, it’s tempting to short from 1.213 and buy from 1.2 it’s been respected so many times 🙂

USD/CHF

Dollar Swiss started to retrace just slightly before it reached our area of demand, it’ll be interesting to see if we have one more push lower so that price can tag those orders in before a move higher.

That being said, we don’t control the price, just our reaction to it, so let’s not get attached to it

USD/SGD

Dollar Singapore is still slightly above the area of demand I’m interested in, it’ll be nice to see a clear rejection from there, we’ve so far created a nice triple low, so if we break it to reach the area of demand there’ll be a lot of liquidity for a potential long so that would suit us.

That’s it for today folks! Have a good one!