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GBPUSD

Volatility of this pair is drastic. It went up and down bobbling 400 pips and more before closing for the week. The pound might be undergoing a major correction towards the downside as it broke the support lines for the Daily and Weekly charts. More monitoring is needed on the opening for confirmation of the trend, though it looks good on H4 and Daily for a long, I’ll just step aside for the moment.

GBPJPY

The pair dipped even worse than GBPUSD with ovecor a 1,000 pips in just a day. The main uptrend might be broken, as with GBPUSD, I’ll side step and monitor for further confirmations.

EURUSD

Main uptrend is still intact though EUR dipped against USD pretty much before the closing of the market last week. Weekly chart shows there might be a possibility heading towards the downside with MACD’s showing much room for it to dip further. Step aside to monitor.

EURJPY

Everything is looking shakey at the moment for the long term, including Euro against the Yen. Though it might seem that its good for short term for a long on the opening of the pair if it pushes through 200EMA/SMA on 30M and H1.

AUDUSD

The Aussie plummeted against the Dollar but tries to come back before the closure. The main uptrend is still intact, and we might see retracement back to the 38.2 & 50.0 fib zones. First, look out for the candle to cross the 30M and H1 200 EMA line.

USDCAD

The bear trend for USD should continue with CAD with the opening markets. We should see the candle tackling the 200EMA zone on H4. Also, the main trend remains downwards. We’ll be watching closely at this one for a short.

GBPCHF

We’ll be sidestepping on GBPCHF. The main trend for this pair remains bullish, but further confirmations is needed from MACD and MA lines. The daily chart suggests it might continue to dip further to 2.398 zone.

Conclusion

It was a hell of a week for trading last week, so did you bag any pips? . We’ll see how it goes for this week. Good luck.

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