Hello Traders,
Finally, we have come to the last day of the month. October is done and dusted.
Let me be the first to welcome you into the month of November, considering the fact that the chart I will be sharing would be for the new month.
Without much ado, ladies and gentlemen, let’s hit the charts…
1. NZD/USD
On the 4 hours chart price has formed a giant pennant on the NZD/USD pair.
A bounce off the present resistance level (0.64303) could send price back to support level 0.63628 and a breakout could further send price on a bullish rampage to the next possible resistance level (0.64861).
This setup playing out will very much depend on how the daily candlestick closes today.
Personally I will be more of an observer in the market tomorrow, however, if this setup gives a good bearish/bullish confirmation, I may just trade it.
So we close our curtains for the month of October, join us again on Sunday where we take a close look at the market in the first week of November.
Do have a fab weekend, and once again I wish you guys a great month of November and as always…
Stay pip-full
