Hello Traders,
Welcome to the Festive week.
The market is a little bit scattered in my opinion, and I will not advise anyone to trade this period.
However, if you just want to monitor the market or reduce the amount of risk you are going to trade by a large degree, you are welcome.
Let’s hit the chart fellas.
1. GBP/CHF
On the weekly chart, the GBP/CHF closed last week with a beautiful bearish engulfing candlestick within an expanding descending channel…
My opinion?
On the daily chart, the ascending expanding channel is most likely a hoax. Support level 1.26982 is most likely going to crumble under the pressure of the Bears.
Once that breakout happens, our next possible support level would be 1.21280.
That’s all I have for our weekly review folks. Kindly subscribe so that you don’t miss out next market review.
Presently the market is erratic and this may force us not to give our daily update on the market, however, we will not fail to update you when we do spot some setups worth taking note of.
Do enjoy your holiday folks.
