TGIF Traders,
It’s almost weekend ladies and gentlemen, and I can’t wait for it.
The reason is that the fight between Kamaru Usman and Jorge Masvidal will be going down on Saturday.
The fact that Kamaru Usman is from Nigeria and has recently had some impressive wins is awesome.
This is not to say Masvidal is a pushover either. He has the fastest knockout in UFC history, and he is also one of my favorite fighters.
If you ain’t watching MMA (mixed martial arts), you are missing a lot my friend.
That said, let’s hit the charts ladies and gents.
1. EUR/USD
EUR/USD failed to break the 1.13631 resistance level. This encouraged the Bears to move in and pull price down to support level 1.12876.
Personally I believe the current support level is weak and we could see a breakout which will most likely force price to the next possible support level (1.12275)
Let’s also ensure we get a confirmation before selling because there is also a slight probability that price could head back to its previous resistance level (1.13631)
2. CAD/JPY
CAD/JPY is another pair to take note of.
The Bears just keep coming into the sell this.
If support level 78.941 is broken, we could see price hit 78.502 as the next support level.
However, we have to be patient enough to see if the breakout will happen
Let’s not forget ladies and gentlemen, it’s Friday and the market could be rather unpredictable. So if we are trading, let’s do so with absolute caution.
Do have an awesome weekend and thank you again for sparing your time to go through our analysis, it means a lot to me.
Stay blessed.
