Hello Traders,
It’s the first mid-week of the month of June. Let’s see what the market has for us.
1. GBP/CHF
Price on the GBP/CHF could go either way.
The key support zone is a formidable one, and it will take a strong bearish move to break through it.
If we do get price breakout through the key support zone, then price next target would be 1.25955.
If price lacks the motivation to break through the support zone, and we go get a reversal, then price will most likely visit 1.27296 which is the first possible resistance level. If the reversal is strong enough, then price may proceed to the 2nd possible resistance level (1.27882)
2. NZD/JPY
At first glance, the NZD/JPY is an ascending narrowing channel.
But when you look closer, you will see that there is a head and shoulder pattern at the tail end of the channel.
If the neckline of the H & S breaks, price may hit 78.506, which is the next possible support level. If the present support level do gives us a rejection, then the shoulder (79.717) may be price next resistance level
If the bulls hit 79.717 and still persists, then we may see price hit 80.129, which is the head.
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
[newsletter_form type=”minimal”
