Good day traders,
Let’s hit the charts…
1. EUR/AUD
After the bullish move of price on the EUR/AUD this week, it has finally hit a key resistance level (1.62289).
From my point of view, we could be seeing a slanting head and shoulders formation in the making.
The bearish pin-bar on the daily chart may also be giving us an additional clue to a bearish move of price.
If there is a confirmation for a bearish move, we could see price retrace its steps back to support level 1.60321 before the close of the trading week.
2. EUR/CAD
On the EUR/CAD there was a 2nd breakout on a major support last week.
At the beginning of the week, we saw a retracement of price back to a former support level which now serves as a resistance level (1.47401).
If price on the daily chart closes with a bearish pin-bar, we may see the Bears push price below support level 1.46344.
I wish you all a pip-full day ahead
