Sunday Market Review 30/9/2018

Hello Traders and welcome to this week's Sunday Market Review. This time we will look at the:

  • EUR/CAD - 4 hourly
  • GBP/USD - hourly
  • EUR/SEK - hourly

EUR/CAD - 4 hourly

As you can see, we have a nice Channel breakout on the EUR/CAD - 4 hourly.  I expect some bearish momentum for the next few days and going short on the lower timefrimes is definitely a good idea. I've drawn useful S&R zones to determine good areas for entry, SL and TP.

Price will most likely test to LOW of the Channel, before reversing.

GBP/USD - hourly

In this chart, we see a clean bearish head&shoulder pattern on the Cable (GBP/USD). Price now broke below the neckline of the pattern and our bias is definitely bearish. To wait for a pullback into the neckline resistance before entering short sounds like a good idea.

EUR/SEK - hourly

EUR/SEK has been ranging for some while now. Recently it broke outside of the range on the lower side. However, price is now consolidating below the S&R zone and we should wait for further confirmation to go short.

Here, we see the minor consolidation on the 15-minute timeframe. This rectangle pattern is not as clean due to the fake-outs. However, going short on the break of this range to the downside might be good idea as we use the momentum of a higher timeframe and align it with momentum on the lower timeframe.

This is it for this week's Sunday Market Review.

I wish you lots of successful trades.

Khac Tu Nguyen,

Support at FTMO.com