Market Overview - Slow market monday!
EUR/USD - This pair is having a nice bullish ride to the upside at the moment, but I'm not looking for longs at all. I see this bullish movement only as a pullback for further shorts, but time will tell how we should trade this pair. I'm looking for shorts either from the first orange zone, where we also have 61.8% Fibonacci, it's possible though that we will get a push up to the second orange zone where we have 88.6% Fibonacci, supply zone and weekly trendline. Will watch this pair carefully for some kind of short setup.
USD/JPY - I'm expecting this pair to make a trendline retest and I'm looking for long setups around 112.60, this is also why I think we could see more upside in EU before a drop. Remember guys "patience is the key to success.."
EUR/NZD - I am in a short trade in this pair from early this morning, got in on a sell limit at 1.5900 and currently looking at a target around 1.5760. I'm a bit careful though with this trade since it looks like we're building a possible bull flag on the daily chart, we're 40 pips in profit right now and SL is move to break even so it's a risk free trade from now on.
USD/CAD - We did break the consolidation box we've been in for about a week now, I'm very happy for that! I'm looking for shorts if we get a pullback up to the box or any continuation patterns. First target would be 1.3545 but I think we can see downside to 1.3280 if we're looking at a more long term trade.
GBP/USD -I think we can see some downside right here in this pair, we have a bearish shark pattern, a trendline retest and a test on the supply box. I'm looking to get in below the red line as I want to see a push down below that level. We'll see what happens.
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Kind Regards, Crank420