Hello Traders,
Welcome back from the weekend. I hope you had a fun-filled valentine celebration?
It’s time to take a look at our charts and see what the market holds for us this week.
1. EUR/USD
On the weekly chart, the EUR/USD closed by breaking a strong support level (1.08808)
The last time this support level was broken was on the 13th of November 2016 (This makes it over 3 years).
We may get to see a pull-back or a gap, as the market resumes today. If the market still gives us a bearish outlook, our next possible support level would be 1.05691.
2. EUR/JPY
On Wednesday, price on the daily chart of the EUR/JPY gave us a bearish pin-bar which broke through support level 119.837.
This encouraged the sellers to influence the market. This week, we may most likely see price continue it’s downward move to 117.608 which is our next possible support level.
3. EUR/CHF
Price on the EUR/CHF of the weekly chart is currently resting on support level 1.06346.
A bearish breakout will most likely send price to the next support level (1.03196).
A reversal could also take price to resistance level 1.07944.
Patience is of the essence as this setup could go either way.
I wish you a pip-full week ahead
