Hello Traders,
It’s almost mid-week, let’s see if we can make some money off the market.
1. USD/CHF
On the USD/CHF, support level 0.95067 is being tested.
The close of the daily candlestick will definitely speak volumes. If we do have a clean bearish almost Marubozu candlestick, then tomorrow, we will most likely hunt for bearish entries, having in mind that support level 0.92538 may be our next possible support level.
That said…
I repeat, that said
We should also be wary of ambitious buyers coming into the market IF we do not get a clean break. If that happens, we may see price consolidate between support and resistance level 0.95067-0.95929.
2. XAU/USD (GOLD)
So far so good, Gold has been making some nice day trading moves.
Presently we can see price knocking on resistance level 1719.98. A breakout will most likely encourage price to hit the next possible resistance level and a reversal may pull price back to support level 1693.45
I see this trade as a 50/50 setup, so if you are taking it, do so with caution.
What are your thoughts and what pair will you most likely be trading?
