Good day traders,
It’s the last Tuesday of the month, and we hope we make it count as we place our trades in the market. That said, let’s check what the market has for us
1. USD/CHF
USD started Monday’s market, on a bearish note, this could be seen across most pairs. In the process, some key resistance and supports are being tested.
USD/CHF on a 4 hours chart, is on a downward spiral, a pennant which served as a support was broken, there maybe a minor retracement to the upside before the bears kick in again, the next support level will most likely be level 0.97332 which is over +50 pips.
2. USD/CAD
USD/CAD in our weekly analysis is already a grand father, he seems to pop up almost every other day. He popped up on Wednesday and Sunday’s analysis(you see what I mean).
Today the daily candlestick has finally broken through a KEY SUPPORT level, however, we would need some confirmation before selling this pair. Next support level should be at 1.28121
3. EUR/USD
To further prove how weak the USD has become, you could see the EUR/USD already breaking through the resistance of a descending channel.
After confirmation, this may send this pair on another bullish run to the next resistance, which is level 1.18505
