In today’s live Forex analysis session, we went over some possible trade setups for the week and what designates a valid entry for each setup.
The first pair we took a look at was EURUSD. The pair has gained against the Dollar after a lackluster NFP release. However, the pair is within arms reach of our descending channel and any hopes of going long could be short lived. We have another great setup on Gold as the precious metal has closed below 1502. We could see Gold slip to 1488 over the next few days.
See our article on Support & Resistance Zones/Lines
Lastly, we took a look at EURNZD and EURCAD. Both of which are showing a potential long setup. For EURNZD, we want a break above 1.75000 to go long to 1.77000. For EURCAD we need price to snap out of our resistance zone at 1.46600 for a possible move to 1.49000.
Similar to last week, this week has a decent amount of news. Therefore, we will pick and choose the trades we take to avoid holding them during the release of news. With that being said, I will see you all for another live session tomorrow at 11:00 AM EST.
Watch the Live Session Here:
Check out Friday’s Live Session Recap: October 4th, 2019 Live Session