Hey traders,
let’s hit them charts:
1. EUR/USD
Finally EUR/USD broke the resistance zone that has been holding buyers down for almost a month
But this does not mean that buyers now have the leeway to just gallivant. There is still the 1.03592 resistance level to break before we can say that the coast is clear for all buyers.
This Thursday I will be watching out for the 1.03592 resistance level and how it holds its ground against Thursday buyer’s pressure. If it cracks, then we may enjoy a free ride to the next possible resistance level (1.06056)
On the other hand we may see price consolidate between 1.03592 and 1.02893 before the release of the USD news at 1.30 pm
2. NZD/JPY
On the NZD/JPY, the bulls are currently knocking on the key resistance zone, and if we do get a breakout, then our next target would be resistance level 86.460 (which is what I am interested in)
A reversal at the current level means price may revisit support level 84.678
What say you?
