Hello Traders,
Today we will be looking at some of the pairs we dissected on Sunday.
Price has moved to some key levels which I believe may be viable to trade for some of us this Wednesday.
Without further ado, let’s hit our charts…
1. EUR/JPY
EUR/JPY has made an important move as we speculated on Sunday.
If price on the daily chart closes below the 120.761, there is every likelihood that the Bears will go berserk, and we may witness over +230 pips move to the next possible support level (118.226).
2. AUD/USD
The AUD/USD is another pair analyzed on Sunday.
Presently on the daily chart, price is testing support level 0.70024 within a descending channel. If a breakout occurs, we should be looking at 0.69105 as the next possible support level.
However, if price does not break through the present support level, we may see price bounce back to resistance level 0.70865.
I still hold a bearish bias regarding this pair, that said, only a bearish confirmation should authenticate its next move.
That said, we are done for the day, do trade responsibly and I wish you a pip-full day ahead
“berserk” ..lolz..