Hello Traders,
It’s the last trading week of the month of April, let’s see what the market has for us:
1. USD/CHF
On Friday, the USD/CHF closed with a strong bearish outlook. However, support level 0.91312 prevented price from falling any further.
This week will determine if the sellers in the market are aggressive enough to break support level 0.91312, and go on to hit the next possible support level (0.90552) or
If the current support level will repel price back to a previous resistance level (0.91894)
2. EUR/USD
Price on the EUR/USD is locked within an expanding ascending channel. Price is currently held by resistance level 1.20998.
If we do get a confirmation of a bullish breakout, then our next possible resistance level would be 1.21444.
On the other hand, we could also see a slight pullback of price as the trading week resumes. So it’s paramount that if we are to trade this pair, we do so with caution
3. EUR/JPY
Close to 3 weeks now and the resistance zone on the EUR/JPY refuses to budge.
Is this week going to bring about the buyers finally breaking the key resistance zone?
If that happens, for the more conservative traders, our next possible resistance level would be 131.368
What say you?
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