FREE Weekly Forecast for 14th – 18th May 2018




Hello guys,

Sorry I have not been able to post any analysis for the past two weeks, I am sincerely sorry. This week (14th – 18th May) we will analyze the following pairs: GBPUSD, GBPCAD, USDCAD, AUDUSD.

 

GBPUSD

Using out trend line along with support and resistance we saw how price broke the two trend line and fell for close to 2 week while ranging for another one week. From last week price movement, we  saw how the price of GBPUSD was ranging along the support of 1.34813 so this is clearly an uptrend.




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GBPUSD picture




GBPCAD

The Great British Pound and Canadian Dollar reach a support at 1.71619 and we expect price to resume a bullish trend after weeks of falling.

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GBPUSD picture

USDCAD

Using the Fibonacci retracement on USDCAD we can see a potential continuation in the uptrend accompanied by a support at 1.27612 and a Fibonacci level of 61.8% the bullish trend is somewhat certain.




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USDCAD pictures

AUDUSD




Using the support and resistance, we can see a similar pattern  repeating itself which is a bullish trend but I will encourage you to be watchful and wait for it to form just as in the trade set up from the picture below.

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AUDUSD picture 

NOTE: I did not indicate the stop loss or take profit in any analysis so you should add them when placing your trade, also when using stop loss and take profit, ensure that you use a considerable win-loss ratio.




DO NOT forget use a Good Money Management that is using your lot size and leverage.




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