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WEEKLY ANALYSIS TRADE SETUPS: EURJPY & GBPNZD - ( 06 - 10 April, 2020)📈📊💰

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Since the month of December last year a bear market ensued on the Euro versus the Japanese Yen which is clearly seen by the descending price channel that has formed since then.Price has respected the resistance and support levels of the channel to the tee.Safe to say that the main trend is a downtrend.Last week’s candlestick was bearish closing off at the support level.

Forex Market Analysis

WEEKLY ANALYSIS TRADE SETUPS: EURJPY & GBPNZD - ( 06 - 10 April, 2020)📈📊💰

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Since the month of December last year a bear market ensued on the Euro versus the Japanese Yen which is clearly seen by the descending price channel that has formed since then.Price has respected the resistance and support levels of the channel to the tee.Safe to say that the main trend is a downtrend.Last week’s candlestick was bearish closing off at the support level.

WEEKLY ANALYSIS TRADE SETUPS: NZDCAD & USDCHF - ( 30 March - 03 April, 2020)📈📊💰

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For the past year the New Zealand Dollar versus the Canadian Dollar has been on a steep downtrend with one major retracement visible on the weekly time frame. Price was recently at our major level which has been acting as our support zone. In the previous week price was supported and a dominant bullish candlestick was formed. 

WEEKLY ANALYSIS TRADE SETUPS: USDCAD & EURAUD - ( 23- 27 March, 2020)📈📊💰

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Exactly 4 weeks ago in the month of February we covered this pair where there was a descending triangle which was on the brink of a breakout with price at the resistance zone of the pattern. Forex 101 suggests that descending triangle patterns do breakout on the downside. Well just like there are no guarantees in life neither are there any in the Forex market. Price broke out on the upside which was one of the possibilities we discussed 4 weeks ago.

WEEKLY ANALYSIS TRADE SETUPS: XAUUSD & CADJPY - ( 16- 20 March, 2020)📈📊💰

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Following up on this pair that we analyzed at the beginning of the month of March,our pattern was a double top that had made a weekly breakout. Our bias was that there’s a very high probability that sellers would take price lower. True to our analysis price fell into a waterfall moving for about 600 pips before hitting a bottom and forming weekly pin bar.