Hello Traders,
It’s almost mid-week here, let’s quickly go through the market and see what setups we should be looking at.
1. EUR/CHF
On the EUR/CHF, we can see a decent descending channel.
Price has currently broken resistance level 1.09720, although we have not gotten a bullish confirmation, we still have to wait for a bit.
If we finally get a buy confirmation on the EUR/CHF, our next possible resistance level would be 1.10128.
We should also have it at the back of our mind that this seemingly bullish breakout setup could end up being a fakey. If that is true, we could see price tumble down to support level 1.09251.
2. XAU/USD (GOLD)
Price on Gold has been trying hard to break resistance level 1474.38.
If the Bulls finally succeed in doing so, our next possible resistance level would be 1492.08.
Personally I am bullish biased and I will be waiting for a confirmation to go long on this pair.
That’s all for today folks, thanks for your time and do join us again tomorrow.
Do have a great day and as always…
Stay pip-full
