Consolidating Thursday hits us with CAD/CHF & GBP/JPY

Happy new month fam,

Pardon my absence, I took a short break to enjoy the goodies of the holiday the worker’s day presented.

How did yours go?. You can drop a comment below if you want to share with us.

Okay…

It’s a new month, let’s hit the charts and see if we could start the new month with some pips.

 

 

1. CAD/CHF

CAD vs CHF

CAD/CHF on the 4 hours chart, has price resting on a key support level (0.75540)

After a huge bullish move, price finally hit a key resistance level (0.76196) as we predicted on Sunday

The present support level (0.75540) is not doing a very good job in containing price.

If a breakout occurs, we may most likely see the next possible support level (0.74960) being tested.

If NOT, we may just see a consolidation of price around the present support level.

 

 

2. GBP/JPY

GBP vs JPY

The daily chart of the GBP/JPY has an interesting descending trendline suppressing price.

I will be looking out for how price will react to resistance level (145.945)before making any trading decision.

A reversal should force price back to support level (143.736) and a bullish breakout may take price beyond price level (147.005)

 

We are done for the day folks. Thanks for giving me your time and stay blessed.

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