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Watch List – Week of Nov 1, 2020

CADJPY

  • Daily price has been moving down and finished last week testing the support level at $ 78.550
  • The area also marks the test of the up trend line
  • Last Thursday & Fridays daily closes were Bullish Hammer candles, marking the presence of Bullish traders
  • Daily Stochastic is in the over sold territory

XAUUSD

Trade Direction : SHORT

  • 4H price action has broke below the key support zone at$1880 -$1875
  • Following the break of the above area price has started to pull back up, as Sellers are taking their profits
  • As seen on the chart below price has been following a down trend line started back on the 21st of Oct
  • This trade line was tested and rejected twice before
  • Awaiting for price to test the down trend line for a third line to confirm rejection and entry

 

Forex watch list XAUUSD

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