Moving toward end of May, personally think that this week will be slow as there is a lot of bank holidays.
For those who are new in forex can always check out the forex calendar using below link:
Some update on last week set up
EURGBP still under consolidation we can see the below chart, I am holding on to a sell trade so will remain my outlook on sell.
EURNZD we took a sell last week and closed with 54 pips as we have Europe Elections going on the weekend. Personally still think there is more room to the down side current market is forming a bear flag.
USDZAR is forming higher high. This pair analysis I will still remain as up trend but I propose to trade in the lower timeframe as swing trade is kinda slow.
Ok moving forward this week which are the pairs that I am interested to get in.
GBPUSD, we can see this pair is currently at key support and we have a evening star form last week. Personally think that this support will be tested again as looking at current price action seller is still in control. I am keen to buy at the support area. Please see chart below:
CHFJPY now is also at good sell zone. They have just closed previous gap and we are at previous support area seem like forming a resistance. Please see below chart:
For far that is for this week, if you wanna learn more outlook on other pairs can watch our weekly outlook: