Good day Traders,
how is the month of March treating you so far?
Let’s see what Wednesday has for us:
1. USD/CAD
USD/CAD lost its bullish steam after hitting resistance level 1.26970.
Currently, price is approaching a key support zone which will be a huge test for the sellers who have currently hijacked price.
If the 1.25857 support level gets broken, price next bus stop will most likely be support level 1.24761, and if the sellers get exhausted around this support zone, we may see the bulls slowly return and take price back to resistance level 1.26970.
2. USD/CHF
A bearish pin bar is loading on the daily time frame of the USD/CHF. Coincidentally, resistance level 0.91943 is a level to watch out for because price has continuously respected it
If we close with a bearish pinbar, there is every likelihood that price may return to support level 0.90450, and a bullish breakout may encourage buyers to further push price to 0.92952.
3. EUR/JPY
On the EUR/JPY, we can see a strong bullish move after price reversed at a key support level (128.351) of an expanding ascending channel.
If the daily candlestick closes bullish, we may see price hit resistance level 129.850
What say you?
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