Good day everyone,
hope your trading day went well? In any case, today is a special day, not just because it’s ushering the start of the weekend, but simply because some amazing setups are up for grabs.
Without wasting any much of your time, let’s go straight into our charts
1. USD/CAD
USD/CAD has been such a notorious pair in the last one week. Exactly a week ago USD/CAD bounced of the base off of the support of a descending channel at level 1.28992.
Just when I thought that Monday may be for consolidation and a reversal may later occur on Tuesday…. Well, the market had something else in mind. It broke through resistance level 1.31087 on Tuesday, it broke through a second resistance level 1.31703. which is a channel.
Wednesday may end most likely a draw between the bulls and the bears if the close of the candlestick ends as a doji.
The new candlestick may most likely continue its bullish run.
2.EUR/AUD
EUR/AUD is currently on resistance level 1.61912. Price has been consolidating around this level since on Monday. A breakout or reversal is yet to be confirmed.
A reversal will definitely send price back to level 1.58618 and a breakout will definitely send price beyond 1.62689. This pair could be very tricky, so be on the lookout.
Do have a beautiful day ahead
