Good day fellow traders,
March is already coming to an end, and guess what that means?
Many crazy movies will be popping at the cinemas. I can’t wait to watch…
- The Avengers (End Game) and
- Game of Thrones (Season 8)
That said, let’s see if we can hustle our ticket money from the market. Let’s hit the charts.
1. XAU/USD (GOLD)
On the 4 hours chart, a breakout on support level 1312.42 is obvious, all we need is a confirmation.
If the breakout is confirmed by the close of the 3 pm candlestick, we may most likely see price head south, to the next possible support level (1303.12).
If not, there may be a slight consolidation within the current support level before price decides to either go bullish or bearish.
That said, it is important to note that currently, the daily time frame supports a bearish move.
2. EUR/CHF
EUR/CHF on the daily chart, is presently on a key support level (1.11838)
A breakout through this level, may cause a massive bearish takedown, and price may most likely hit the next possible support level (1.10052).
If you notice, the present level has been revisited once every three months, since last year September.
A bullish reversal may take price back to resistance level 1.13402.
Alright ladies and gentlemen, thanks for your time, join us again for tomorrow’s analysis, and we will call it a wrap for the week and the month of March.
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