Week ahead – GBPCAD, NZDUSD, EURUSD

For the upcoming week I have three FX pairs I am interested in. Most interest goes into the 3200 in EURUSD. Some people are talking about the so called January effect. I can see that the level is holding nicely and it almost smells like it is waiting for some bad news from Europe to come out to test 3000 level. Currently the swing daily LOW is at 38.2% retracement and 3236 is the level of defence for now. If there is a DAILY close below 3075 I might think about longer term short with SL just above 3236 and target at 2650.

GBPCAD – I have mentioned this pair several times in last few months, specifically I like 5885. I still think that breaking above can open a WINDOW towards 6150's and 6350's. There is a descending trendline coming down as well. For now I need to see more (in terms of few more pullbacks before breaking up).

NZDUSD – possibly overbought at the top of the CHANNEL. 8400 might be stronger than it looks. If there is a GAP opening at 8400 I will short it with 0.05% risk type of the trade. Tight SL of 50pips targeting 8250.
Let's see, have a great trading week 😉