TGIF Traders,
Finally, we have come to the end of the trading week, but before we call it a week, let’s see what the charts have for us.
1. CAD/CHF
The 2 pm candlestick on the CAD/CHF closed being heavily bearish. A key support level (0.74358) was also broken in the process.
We may be looking at a slight retracement before the bears drag price down to the next possible support level (0.73906)
That said, we should also be careful if considering taking it.
Remember, there is a reason we call it a TRICKY FRIDAY.
2. USD/CHF
USD/CHF convincingly smashed through support level 0.98693 on the daily chart.
Waiting for the daily candlestick to close is very important. If it closes below the present support level, we could be seeing a slight retracement before the bears further take price to the next possible support level (N.P.S.L).
If the candlestick doesn’t close below the present support level, we may see a consolidation of price.
Thank you, ladies and gentlemen, for sticking around all through the week.
Let me know what you think about our analysis, and kindly share with all your pip loving friends.
Do have a great weekend.
