Let’s go Tuesday presents us with GBP/CAD & EUR/AUD

Hello Traders,

Let’s see what the market has for us today…

 

 

1. GBP/CAD

GBP/CAD started with a bearish outlook this week, and price is currently resting on a delicate support level (1.60718).

The close of the 2 pm or 10 pm candlestick should be the much-needed confirmation for a bearish breakout of price. 

If that happens, we should be looking at support level 1.59598 as the next possible support level.

 

 

2. EUR/AUD

Price on the EUR/AUD spent the entire day resting within the consolidation band (4 hours time frame).

On the higher timeframe, price’s current level is also a key support level. A bearish breakout of the current support level will most likely send price to the next possible support level (1.61980)

 

For both pairs, I am bearish biased, but again, following my bias means waiting for a confirmation.

That said, do apply a sound money management system when trading and as always, do stay pip-full

 

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