Hello Traders,
Welcome to the month of December.
As the holiday is gradually crawling in, we can see the markets slowing down. Taking trades in the month of December is not always a good plan.
Personally I will be taking this week as my last trading week for the year 2019, and if at all I trade, I will do so with the lowest possible risk.
As for our daily analysis, I will keep it running all through the hols, as long as there are viable setups to analyze.
Today we will be looking at just two pairs I feel may be worth trading (if at all).
Let’s hit the charts…
1. GBP/JPY
After price on the GBP/JPY spent almost 2 months within a consolidating channel, it finally broke out through resistance level 140.902.
There was a minor pullback and Friday market closed on the daily chart with a bullish pin bar.
There is every likelihood that price next stop would be resistance level 144.695.
2. GBP/CHF
GBP/CHF just like its cousin (GBP/JPY) broke out from a key resistance level (1.28610).
There was also a slight pull back and the market also closed with almost a full bullish candlestick on Friday.
There is every likelihood that price next bus stop would be resistance level 1.31101.
Thanks for sparing a few minutes of your time checking out our analysis for the week. Join us through the week as we analyze the market and spot out viable setups.
Remember, It’s December, trade with caution and do subscribe to our blog and share our content among your pip loving friends.
Do have a great week, and as always…
Stay pip-full
