Hello Traders,
Let’s hit the charts:
1. EUR/USD
On the EUR/USD, the bears ruled the entire London session.
That said, my major concern is if support level 1.20567 can hold price.
If we do get a decent breakout, we may see price continue its bearish move till price hits the next possible support level (1.18430).
The current support level could also hold price, which may encourage the bulls to take price back to resistance level 1.21352
2. CHF/JPY
CHF/JPY also experienced aggressive selling pressure today.
Currently, the ascending trendline which serves as support can barely hold price.
For the more conservative traders, waiting till the close of the daily candlestick before taking any trading decision may pay off greatly.
If we do get a breakout, price next target would be 116.676, and a reversal of price may lead price back to resistance level 117.941
What say you?
ATTENTION:
For those who are interested in joining our FREE trading group on Telegram, where trade ideas are discussed, which may assist your trading career while being infected by positive vibes
Smash the link: https://t.me/joinchat/FN30PxlwXbk2BcuTDdH5yg
