Hello Traders,
Let’s hit the charts…
1. GBP/CHF
1.20517 was a difficult resistance level for GBP/CHF to break last week Tuesday.
So, for the rest of the week, price retraced its steps back to support level 1.19977. If we do get a bearish breakout this week, we may most likely see price fall to support level 1.19469
A rejection of price at the current level means price may revisit the 1.20314 resistance level.
2. EUR/CHF
Last week, EUR/CHF was rejected at resistance level 1.08620,
This week we will be finding out price’s reaction when it gets to the 1.08072 – 1.07897 level
A breakout means price may further descend to support level 1.07570
A reversal of price may most likely take price back to resistance level 1.08620
2. XAU/USD (GOLD)
Last week, gold fell over 600 pips after breaking out of support level 1897.36.
Price went further to also break a second support level (1857.14) before the close of the trading week.
This week we may see a pull-back of price before price visits the next possible support level (1802.85)
What say you?
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