Hello Traders,
It’s been difficult scavenging for good setups after Sunday’s setups. The market has been slow and too much high-impact news has kept me out of the market for the most part of the week.
I am currently repeating one of the pairs/metal I shared on Sunday, but this time having new setups.
Let’s hit the charts:
1. USD/CAD
USD/CAD on the daily time frame is bearish, however, there is a key support level to contend with before the sellers continue their bearish journey.
There is a possibility that the key support zone will serve as a springboard for buyers tomorrow. If this happens, price may re-visit resistance level 1.28494, but if the sellers manage to break the key support zone, then price next destination will be support level 1.26197.
2. XAU/USD
Gold is still bullish on the daily time frame, but for the better part of today, Gold got trapped in between the consolidation band.
A breakout below the band may encourage sellers to pull price down to support level 1747.82, and if we do get the bulls break through the upper band, then price will most likely hit the next possible resistance level 1803.55
What say you?
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