Hello Traders,
The market has been wild these past few days, but today I was able to catch a few decent setups.
Let’s hit the charts:
1. EUR/CAD
So the EUR/CAD has a complicated head and shoulders formation.
What matters in this setup is the key support zone and how price will react to it. If the bears continue their aggression, then we may most likely see price hit the next support level (1.48038)
We should also be wary of the bulls as we nurse our bearish plans. If the bulls are well motivated, there may be a reversal which may take price back to resistance level 1.49992
2. CAD/JPY
CAD/JPY is one pair to watch out.
The current resistance zone is weak and I foresee a possible breakout which may most likely give the buyers the confidence to take price to the next possible resistance level (88.960)
What say you?
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