Good day fam,
I formally welcome you to the second week of the month of June.
Are you ready to view the market through my binoculars?
If YES, let’s hit the charts
If NOT, kindly bear with us…
1. EUR/USD
We saw Friday market close on the daily chart of the EUR/USD with a resistance breakout (1.13069).
We may see a re-test of the breakout before the bulls may probably hit the next resistance level (1.14485)
2. XAU/USD (GOLD)
Gold on the daily chart has hit another critical resistance level (1346.37)
As it is, we have no full proof of a reversal or break out of the present resistance level.
We would need additional confirmations in order to know if we as traders, should be targeting support level 1322.57 as the next support level or a bullish breakout to the next resistance level (1364.91).
3. USD/CAD
A sharp support breakout (1.33234) of price on the USD/CAD may be a hint of a bearish week ahead.
A confirmation of the Bears strength in the first few hours this week may give us a hint of how strong the Bears really are.
If their strength is confirmed, we may see price hit its next support level (1.31780).
If you are taking this trade, be wary of a pull-back before waiting for the Bears to take over price.
4. NZD/USD
A 4-hour setup to also watch out for is the NZD/USD.
Resistance level 0.66953 is our sniping post.
A breakout or reversal should see price hit level 0.68148 or 0.65903.
That’s all my binoculars can view this beautiful Sunday, hang around with us through the week and I assure you that we will view more beautiful setups.
Wishing you a pip-full week ahead
