Hello Traders,
Let’s see what the market has for us today…
1. GBP/CAD
GBP/CAD started with a bearish outlook this week, and price is currently resting on a delicate support level (1.60718).
The close of the 2 pm or 10 pm candlestick should be the much-needed confirmation for a bearish breakout of price.
If that happens, we should be looking at support level 1.59598 as the next possible support level.
2. EUR/AUD
Price on the EUR/AUD spent the entire day resting within the consolidation band (4 hours time frame).
On the higher timeframe, price’s current level is also a key support level. A bearish breakout of the current support level will most likely send price to the next possible support level (1.61980)
For both pairs, I am bearish biased, but again, following my bias means waiting for a confirmation.
That said, do apply a sound money management system when trading and as always, do stay pip-full
