Dear traders,

The trade from last time EURUSD broke through the supply zone and continued its uptrend.

I was looking for either a continuation or a reversal.

According to the chart there was a clear break through the supply zone.

I did not trade this one unfortunately.

I was too hesitant to enter and then missed a big move.

Even though I saw that setup forming, I decided to stay away.

USDCAD Trading Analysis

I am currently looking at USDCAD.

Looks like we have reached a demand zone and price is waiting for more buyers to ignite a rally.

There is a bullish engulfing pattern on the daily chart.

I will be looking for a candlestick confirmation from the 4H chart.

Ideally this should happen on Monday, because if it occurs today, I might be more hesitant taking a position over the weekend.

Let’s see what price action will bring us.

Happy Friday,

Colibri Trader


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