Hello Traders,
How are we preparing for the holidays ahead?
I know that this year’s Xmas holidays will be strange with all the restrictions, but I believe it’s all a phase which we will surely overcome.
That said, let’s see what the charts have for us.
1. GBP/JPY
The GBP/JPY closed with a strong bearish engulfing candlestick on the daily time frame on Friday,
This week, if the bearish candlestick is still valid, price may hit support level 137.702, if not, and we get a bullish breakout through resistance level 140.296, we most likely will be looking at resistance level 142.722 as our next possible bus stop
2. GBP/CHF
On the higher time frame, price on the GBP/CHF is bearish. However, for the bears to continue to rule, support level 1.19112 has to be broken.
If support level 1.19112 breaks, we may most likely be seeing 1.18190 serving as our next possible support level.
Let’s not also rule out the fact that the current support level may hold and reject price this coming week, which may give us an option of buying and looking at resistance level 1.20288 as our next possible resistance level.
3. CAD/JPY
On the CAD/JPY, price is held by support level 80.771
A breakout may further pull price down to support level 79.895 and a re-bounce of price may push price back to resistance level 81.297
What say you?
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