Good morning folks!
I hope everyone is well! Hope all the frenchies got to enjoy their day off yesterday, always important to think back and give thanks to the sacrifices others have made to not only improve your life but also to have protected your rights.
Anyway, not here for a lecture on morals or history, I’d probably be the wrong person to do it in any case!
Oh and before I go forward, wanted to thanks KostasFX for recommending me to look into revolut (card/bank) that enables easy transition between currencies
I’ll start with Pound Canadian since I currently have an order in the market, let’s see if it gets triggered!
As per usual I’ll only share the daily chart because of that, but we’ve reached a clear area of demand, saw a move higher yesterday, (a breakout of a 4hour trendline), on the hourly we’ve also broken the 50EMA and are above the pivot. All in all, looks good so far to me for a potential long.
We’ll obviously have to take in account the descending trendline and see what impact it has on the position tho!
I’ll stick to the daily since there’s no entry opportunity here today for my plan either
We are currently breaking out of a descending trendline (a rather clear correction), I’m waiting to see how this daily candle closes before looking for a potential long, however, as it currently stands I’ll have a new zone for potential longs next week.
Aussie Dollar is approaching an old area of interest, a counter zone to be exact, let’s see how it turns out once we reach it.
As per the rest of this week, Euro Australian remains on my watchlist, we’re currently moving sideways, I believe everything will be resolved once EU decides what it wants to do. I’ll be keen to take a short position if price reaches the area of supply just above the most recent high on the 4hour.
Just patiently waiting.
Euro Yen is in a similar position, I’m just patiently waiting for a retest of the area of supply, it will also fit with a trendline retest
Pound Kiwi is on my watch to see if we break the recent low and reach the area of demand for a potential reversal. It won’t be the prettiest set-up I have ever seen, but it remains a valid one!
I’m expecting a potential bounce from this area over the next week, however, it could also break down way lower, only time will tell, that being said. If a valid position takes place I’ll execute it with no hesitation.
Keeping my eyes on gold today and Monday, however, if both days close bearish without touching the area of demand, I’ll remove it from my watchlist