Hello Traders,
how have you been?
It’s been cloudy and rainy in Lagos, quite bizarre for this time of the year.
We are already in the last week of October, what are your trading plans for the week?
Personally, I have a few pairs under my radar, let’s hit the charts fam.
1. NZD/JPY
Since last week Thursday, NZD/JPY (daily chart) has been on a bearish fall.
Looking at the 4 hours chart, we can see that price has partially broken the consolidation band.
All we need do is wait for a bearish confirmation to the next possible support level (68.516)
2. EUR/JPY
The EUR/JPY is looking pretty.
After a major breakout from resistance level (118.775) of a descending channel, price got stuck for close to 2 weeks within a consolidation band.
A breakout through the consolidation band will most likely encourage sellers to further push the price down to the next possible support level (118.315).
3. USD/CHF
On the 4 hours chart price is locked within a descending channel.
I would be looking at how price reacts to resistance level (0.99593)
If a breakout happens, we should be looking at resistance level 0.99927 as price next bus stop.
If a reversal occurs, we should be looking at 0.98661 as the next possible support level.
That’s all we have for today.
Comment if you have different views, share if you also have pip long friends and subscribe if you enjoy what we do.
As always, remain pip-full
