Good day Traders,
So excited that the month of February is almost over. How did your trading go throughout the month of February?
I hope great?.
If it wasn’t, brush it off mate. At least you have found one way of trading, that doesn’t work in the market.
Let’s forge ahead and welcome the new month with a smile of victory.
I was looking through my charts today and I noticed some pretty good setups are waiting to welcome us into the new month.
Are you ready to see them?
Let’s hit the charts
1. EUR/NZD
EUR/NZD on the 4 hours time frame has a beautiful looking pennant and price is presently on a crossroad.
Will price breakout from resistance level 1.67249?
If it does, we may be looking at resistance level 1.68083 as the next resistance level.
On the other hand, if a reversal occurs, price may most likely hit support level 1.66004, before continuing it’s bearish run.
2. AUD/USD
AUD/USD on the 4 hours time frame has got price form a beautiful expanding ascending channel.
Price is close to support level 0.70787. We should be paying close attention to how price will behave when it finally gets to the support level. If a bearish breakout occurs, we may see price go below support level 0.70524.
If price bounces off the support level, the bulls may take over price, hence driving price to the next possible resistance level (0.71464)
Aha, we done for the week guys.
Wishing everyone a pip-full month of March, and do have an awesome weekend.
