Setups for the week ahead 02.10. - 06.10.17

EUR vs CAD

Bullish bias for the week.

This is the weekly chart of EUR vs CAD. 1,45 level proves to be a significant level. Above this level I am bullish. Last week formed a Rejection Candle. If we get a weekly close beloe 1,45 the bias is void and I have to re-evaluate.

EUR vs NZD

Mixed signal.

This is the weekly chart of EUR vs NZD. I did talk about this asset last week (here). Price is at a level of interest. Last week close did form a small Bullish Engulfing Pattern. But this does not put my bias in favour of the bulls. We have another Indecision Candle, so my bias remains neutral. I have two focus levels that I'll get more interested. Either a close above 1,65 or a test of 1,60. Keep an eye on this asset, it may be worth it.

GBP vs JPY

Mixed signal.

This is the weekly chart of GBP vs JPY. I did talk about this asset last week (here). The picture has not changed. I am still tempted to label this asset bearish, but it may merely be a pause in an upward move. Price may have paused to test the broken range resistance level. We'll only know after the move. For now I am am on observers mode.

AUD vs JPY

Bearis bias for the week.

This is the weekly chart of AUD vs JPY. This asset was labled as bearish last week (here). With last week close we have a Bearish Engulfing Pattern. It may still be a test of the swing high that barely got broken. But what I see is a bearish pattern. And that puts my bias in favour of the bears.

USDOLLAR

Bullish bias for the week.

This is the weekly chart of FXCM USDOLLAR. Last week I did talk about this asset (here). I did mention that if we get a close above the bearish candle it will be a bullish sign. We do have a modified Morning Star Pattern which is a bullish reversal signal. This pattern puts my bias in favour of the bulls. The next obstacle is the descending trendline followed by the 12 level. I like to use this index in reference to EUR vs USD and GBP vs USD on most other USD pairs. With Dollar strength we'll see a weak EUR vs USD and GBP vs USD.

If you have any questions, please leave them in the comments section below.
Happy trading,
TT