Hello Traders,
It’s Tuesday already and the market is about to hit full throttle.
Let’s hit the charts:
1. EUR/JPY
EUR/JPY has reached a key resistance level (124.190)
Though this setup has a higher potential of reversing because on the daily time frame, the current resistance level is well within a descending channel.
We should also watch out for a breakout of the current resistance level, which if it happens, we could see price hit 124.690 as the next possible resistance level
2. XAU/USD
Gold has been maintaining an ascending support level for over 3 weeks now.
A bounce may take price back to the key resistance area (1914.91 – 1919.02) visited in the early hours of today.
A breakout may most likely encourage the bears to drive price down to support level 1881.98
What say you?
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