Weekly Setups – February 8, 2021

GBPUSD

GBPUSD

Break above confirms bullish trend will most likely to continue and break of low could indicate the start of a bearish trend. Let’s watch and see what happens.

 

AUDUSD

AUDUSD

Usually I’m not a fan of trendlines with huge belly but in this case it seems to be obeying the bullish trendline. It has now found support on the trendline. We could see price continue up or possibly retest this support. I will be watching this pair to see if I can get an entry if it shows bullish/bearish confirmations.

 

EURJPY

EURJPY

This support area is key as long as price remains above this support I am BULLISH. Although we could see some form of convergence I will still be bullish unless price breaks below this support area. As is, price is also respecting the trendline so let’s see what will happen.

 

EURCAD

eurcad

I’m definitely interested in this setup. If we get a strong break to the upside it could mean we see some continued bullish movement and also a reversal. If we get a strong break of the low without price breaking the high we could see a continuation of the bearish trend and for those reasons I’m interested.

 

NZDUSD

nzdusd

On nzdusd h4 we see price converging which means we could see a break out soon. At the moment price is heading towards the upside. I would be comfortable taking an entry if we get a strong break of that high or if we get some bearish movement I would consider taking a bearish entry on the low shown.

 

Comment let me know what you guys think!!

 

 

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