Hey traders, here is a brief technical outlook of 4 peculiar instruments to watch this week
1️⃣ USDCAD - Daily time frame 🇨🇦🇺🇸
The pair is very close to a broken neckline of a huge head and shoulders pattern. 1.26 - 1.265 is the zone from where I expect a bearish move. Let the price reach that and then look for a confirmation within that area to sell.
2️⃣ Gold (XAUUSD) - 12H time frame 🥇
I am very bullish on Gold. Last week the price violated a horizontal trading range to the upside. Retesting its broken boundary the market shows a very positive reaction. Bullish continuation to 1855 is expected.
3️⃣ AUDUSD - Daily time frame 🇦🇺🇺🇸
The price was steadily growing within a bullish flag pattern from the beginning of December. Setting a lower high last week the price violated a flag's support to the downside. It looks like the pair is preparing for a bearish move.
4️⃣ EURCHF - Daily time frame 🇪🇺🇨🇭
The pair is trading in a long-term bearish trend. The price is approaching a current local structure low at the moment. Be prepared for a bearish continuation. In case of a violation of a current low, a bearish continuation will be expected.
❤️Please, support this idea with like and comment!❤️
Thanks for your work