TGIF Traders,
How is everyone doing?
I am very much pumped for the weekend, and I am sure you guys are too.
Before we leave for the weekend, I believe we could make some pips as the market is displaying some interesting setups.
Lets go…
1. EUR/JPY
On the EUR/JPY, price has finally hit the support level (119.796) of our consolidation band after spending days meandering within the band.
Is the daily candlestick going to close with a convincing breakout?
If YES, then the market may close for the weekend with price hitting the next possible support level (118.491)
If NOT, price may continue bouncing within the consolidation band.
Personally, my bias is bearish, but we still have to wait for confirmation before joining other sellers to push price further down.
2. EUR/CHF
Is price on the EUR/CHF still playing “hard to get” or are we going to see a bearish pin bar breakout of support level 1.06631 on the daily time frame?
If we do, then there is every likelihood that price next bus stop would be support level 1.06066.
If NOT, then it’s advisable to stay away from this pair, at least for this week.
What are your views?
Kindly comment below
Thanks for your time and kindly help us spread our message across your trading community.
Do have a fab weekend.
