Week ahead – EURUSD, AUDCAD, EURCAD

In the last week we were able to witness decent BEAR drive which was initiated by the results of FOMC on April 3rd. After the FED announcement came strong bearish swing with one hourly candle being as long as 129pips. With minor retracements we got as low as  3032 on the EURUSD. The daily uptrend broke down and we are currently in the retracement phase. Looking at the price action we might see move back towards 3180’s. This zone represents first decent fading opportunity. If the level is penetrated strongly we shell see another fading zone with plenty of big sell orders at 3280 – 3300. In a meantime I am focusing on the pullback towards 3100.

Another two pairs are presenting a good opportunity to short. All levels has been decided upon the speed of the penetration and a historical value.
Here are the parallel trades from last week {VFI}:

Have a great trading week.