TGIF traders,
let’s see what the market has for us before we run off for the weekend.
1. USD/CAD
The USD/CAD is giving a head and shoulder formation, and price is currently resting at the base or the neckline (1.24442).
A breakout confirmation may further encourage the bears to hit the next possible support level (1.23150), and a reversal may take price back to resistance level (1.25380)
2. GBP/USD
GBP/USD has reached a critical resistance zone, and we could be seeing a reversal at the current level.
If the sellers are well motivated this Friday, price could revisit the previous key support zone (1.38964 – 1.38625 ),
if the buyers still rule this Friday, we may see price break the current resistance zone and head to the next possible resistance level (1.40838)
3. XAU/USD (GOLD)
Gold has reached a key resistance zone and the bulls will need all the motivation to break the current resistance zone.
If the bulls win, then our next possible resistance level would be 1869.15, and if for any reason the bulls fail in breaking the current resistance zone, then we may see price revisit the previous support zone.
What say you?
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