Hello Traders,
The week is almost up and the market is filled with loads of activities.
Before we miss any of the opportunities, let’s hit the charts and see what pairs we could add to our list.
1. GBP/JPY
On the daily and weekly chart, the GBP/JPY pair is highly bearish.
That said, we can see a close similarity between this pair and Gold which was analyzed yesterday (just that price is on the opposite direction)
Currently, price is hooked in between the consolidation band.
On this pair, I am bearish biased. However, before committing to this trade, we should ensure that the support level 128.175 is broken.
Once broken the next possible support level would be 124.741, which is over +300 pips move.
2. CAD/JPY
A breakout on the CAD/JPY can be seen.
A confirmation of the breakout will be revealed to us on the close of the daily candlestick by 10 pm.
Once the breakout is confirmed, 77.851 will most likely be our next possible support level
3. CAD/CHF
Another breakout on the CAD/CHF.
Support level 0.73444 has finally given way to a brutal bearish price.
Just like the CAD/JPY, if the daily candlestick closes with a bearish outlook, we should be looking at support level 0.72009 as the next possible support level.
That’s all we have for today ladies and gentlemen.
Let’s meet again tomorrow for another round of analysis.
Till then, remain pip-worthy
Wonderful,a newbie trader like me can learn a few things he or she has been missing
Hello Bonnie
I am glad you are learning a thing or two.
stay blessed