Hello Traders,
I formally welcome you to the month of March. A brand new trading month.
Without further ado let’s see what the market has for us this week.
1. GBP/CHF
GBP/CHF on the daily chart is resting on support level 1.23533.
There is a possibility we could see a price bounce back to resistance level 1.25349 or we could see price stall a bit before a bearish breakout of price to the next possible support level (1.21011).
2. NZD/JPY
On Friday, the sellers on the NZD/JPY pulled price to support level 67.056. the bears were so strong that they didn’t even respect support level 68.889.
Well, price is currently resting on support level 67.056, and there is every likelihood that price could return to resistance level 68.889.
However, if the Bears resume strong this week, we could see a minor or major consolidation of price before another bearish breakout to the next possible support level (61.014).
3. USD/CAD
On the weekly chart, the USD/CAD has finally hit resistance level 1.33869.
A breakout or a reversal will be confirmed on the daily chart this week. If a reversal is confirmed, price will most likely re-visit support level 1.32183 and if a breakout is confirmed, our next possible resistance level would be 1.35664.
What are your views regarding these pairs?
