Hello Traders,
Wednesday is living up to its name as the market seem to be teeming with nice interesting setups.
Ladies and gentlemen, let’s hit the charts.
1. AUD/USD
The AUD/USD hit the bullish throttle as soon as price touched support level 0.66890.
Pardon me, I can’t say what brought about the bullish move as I do not follow the news, so, me trying to explain why price reacted that way means I most likely would be lying to you.
All I know is price is heading to the next resistance level (0.67683) and that’s where the fireworks at.
If a breakout occurs, we could be seeing price continuing its bullish move to the next possible resistance level (0.68217) and a reversal of price will most likely bounce price back to a previous support level (0.66890).
2. USD/CHF
The USD/CHF was one of the pair we analyzed on Sunday.
Presently we can see a bearish engulfing candlestick on the daily chart. If the reversal is confirmed at the close of the daily candlestick, there is a possibility that we could be seeing the sellers pulling price to a previous support level (0.96788)
That’s all we have for our Tuesday analysis, do trade with caution and always remember
“One trade should not define you as a trader“
Stay pip-full
