TGIF traders,
Another beautiful weekend is just around the corner. I just spotted some good setups that may add spice to our weekend.
Let’s head right to our charts.
1. EUR/USD
EUR/USD on the 4 hours chart is currently resting on a key support area (1.11781) of an ascending trendline.
On the daily chart, price is still bearish. A breakout of the current support level may send price tumbling down to the next possible support level (1.11339)
If price does not breakout through the current support level, we may just see price bounce between level 1.12179 and 1.11855.
2. CAD/CHF
A bearish pin bar is obvious on the CAD/CHF. The pin bar also appears on a key resistance level (0.75293) of a descending channel.
If the 2 pm bearish pin bar closes this way. We may see the bears take the market to the next possible support level (0.74622).
If price breaks the current resistance level. The bulls should be waiting at the other side to take price to the next possible resistance level (0.75763).
Remember, it’s a Friday and it’s tricky too. If you taking any trade, endeavor to exercise proper money management.
Do have a fun filled weekend fam, we will be back here on Sunday to view what the market will hold for us next week.
