Tricky Friday presents us with EUR/USD & AUD/USD

Hello traders,

Let’s hit the charts:

 

 

1. EUR/USD

On the EUR/USD, the ascending trendline is currently holding price.

A breakout means we may probably see price hit the next possible support level (1.19572), and a reversal at the current price level will possibly encourage the buyers to take price back to resistance level 1.20696.

 

 

2. AUD/USD

A classical head and shoulders pattern is visible on the one-hour time frame of the AUD/USD

Price is currently resting on the neckline (support zone). If we do get a breakout, price may most likely hit 0.76541 which is the next possible support level

Mind you, there is also a possibility of a reversal, so before you get into this trade and sell, ensure you get a confirmation.

 

NOTE: If you are also planning to trade the EUR/USD, be mindful of tomorrow’s high-impact news on the euro during the London session.

 

ATTENTION:

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