Hello Traders,
Let’s hit the market one last time before we hit the streets for the weekend.
1. EUR/JPY
EUR/JPY on the daily chart has price stuck within a consolidation band.
For about a week now price has been going back and forth withing a consolidation band.
A bearish breakout below 120.372 will most likely pull price to the next possible support level (117.646).
There is also a likelihood that price may bounce back to resistance level 121.320 before the close of market on Friday.
2. XAU/USD (GOLD)
Gold is looking good as price is touching a key resistance level (1500.80) within a pennant.
If the present daily candlestick closes with a well defined bullish breakout, we could be looking at price reaching level 1519.27 before the close of Friday market.
If we also get a price pull-back at the close of the daily candlestick, there is also a possibility that price will rest within the pennant till next week.
That’s all for the week folks, kindly comment if you have other views regarding our analysis and please share our content among your pip loving friends.
join us again on Sunday for another weekly review of the market.
Do have a great weekend.
