Good day legends,
Wednesday so far is becoming a very productive day of the week for us. Most of the setups from previous days tend to unfold on Wednesdays, especially in this month of August.
Without stressing too much, let’s hit the charts
1. USD/CAD
We have been tracking this pair like bloodhounds for over a week now, you can check this link
Presently USD/CAD is standing on a critical support level (1.30109). The last candlestick closed as spinning tops, which signifies the BULLS and BEARS battle ended up in a draw.
A reversal back to resistance level 1.31399 has not yet been authenticated, hence buying at this point could be risky, except you have some good money management skills under your sleeves.
2. GOLD(XAU/USD)
We have been tracking this precious metal since Sunday
Today, price has finally hit resistance level 1199.00. A reversal not yet confirmed, however, there is a strong correlation between the USD and GOLD.
If you look closely at USD/CAD, The strengthening of the dollar (price going up), will most likely cause a weakening of GOLD (price going down).
If you going to trade this pair, I suggest you do so with caution.
3. NZD/USD
Lastly…,
NZD/USD, just like the previous pairs, touched a key resistance level. No confirmation to sell or buy yet. Hopefully the close of Wednesday’s daily candlestick would guide us on our next line of action.
Do have a beautiful day ahead
awesome setups
Thank you Mr. Josmo
I am glad you like it