NZD/JPY, AUD/USD And AUD/CAD: 3 Great Setups

As we are closer to the end of the week, let us look at the weekly chart on the NZ/DJPY, where we are having a very interesting situation. The price is trying to create a weekly hammer on the super important long-term horizontal support around the 75.7. If it succeeds, we should get a legitimate buy signal.

Two interesting setups with the AUD. First one will be the AUD/USD, where the price is trying to form an inverse head-and-shoulders on a crucial horizontal support. Bullish success here, so the price closing above the neckline, will also mean a false breakout below the orange area. All that together would be a strong buy signal because we still have to wait for that, as the right shoulder is being formed but the neckline is still far.

Second one with the AUD is the AUD/CAD, where the situation is pretty similar. We do have a horizontal support and an attempt to create an iH&S formation. Here we also have to be patient. Only the breakout of the neckline will allow us to go long.

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