Technical analysis – the week ahead

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The first pair too look at this week is USD/GBP. This pair has recently hit the support level and has reversed with three consecutive bullish days. It has been in a range since the end of  but suspect a possible bullish trend to continue if resistance is broken.

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Secondly is USD/AUD. This pair has recently broke out from its descending triangle pattern which has also retested the resistance level creating a new support. It also closed Friday with a large bullish candle, i suspect the bullish trend to continue and test the 200 day moving average, if this level is broken i can see the price hitting marches highs of 1.400.

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The final pair is CAD/AUD. This pair has been in a bearish trend since June and has recently formed a inverse head and shoulders reversal pattern. if the resistance level is broken i suspect the trend to become bullish and possibly hit the highs of June at 1.0700.

 

 

 

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