Happy new month fam,
Pardon my absence, I took a short break to enjoy the goodies of the holiday the worker’s day presented.
How did yours go?. You can drop a comment below if you want to share with us.
Okay…
It’s a new month, let’s hit the charts and see if we could start the new month with some pips.
1. CAD/CHF
CAD/CHF on the 4 hours chart, has price resting on a key support level (0.75540)
After a huge bullish move, price finally hit a key resistance level (0.76196) as we predicted on Sunday
The present support level (0.75540) is not doing a very good job in containing price.
If a breakout occurs, we may most likely see the next possible support level (0.74960) being tested.
If NOT, we may just see a consolidation of price around the present support level.
2. GBP/JPY
The daily chart of the GBP/JPY has an interesting descending trendline suppressing price.
I will be looking out for how price will react to resistance level (145.945)before making any trading decision.
A reversal should force price back to support level (143.736) and a bullish breakout may take price beyond price level (147.005)
We are done for the day folks. Thanks for giving me your time and stay blessed.
