Daily FX Training | Learn Forex with the Dynamic Traders: Review ZAR, SGD, AUDJPY

Happy Monday Dynamic Traders!

Hope you all had a wonderful weekend.

I wanted to start the week off by taking a quick look at the trades mentioned last week. Let's start with ZAR. Price did indeed find a resistance point at the figure/fib level and then continued down, however still remaining within the comfort of the channel. Price has recently found support and now seems undecided as to what to do next. Should we see a BOB of the low we then have the lower channel TL next on the cards as support so the move may be short lived. We could see price bounce back up to continue the channelling pattern.

SGD also continued down, ignoring the figure. But from Friday price has been bullish and seems to be taking a breathe in the down trend. Price has tagged a breather level today but we could see further moves up before a continuation with the down trend.

AUDJPY did see that BOB of the squeeze and has continued up ignoring the R & RN. The aggressive traders may have already entered this trade. The more conservative will be awaiting a BOB of the high for a potential continuation on the upside. We're fast approaching this area so all eyes on AUDJPY this week! Will it breakthrough or will it find R and reverse?