TGIF Traders,
Pheeew!!!, I can’t believe it.
It’s finally Friday. This week has been one hell of a week in the market for me, combined with a host of other killer events in my life.
Ok, let’s forget about the killer events…
Anyways…
While going through the charts, I noticed there are some interesting setups to share. Still making up my mind if I would trade them.
Let’s hit the charts guys…
1. USD/CHF
With the current strength of the US Dollar, the USD/CHF is currently testing a very important resistance level (1.01089), and if price succeeds in breaking the current resistance level, the bulls may finally go rogue on price.
Let’s not forget that the last time the present resistance level was broken, was in November 2016. If the bullish breakout plays out, the next possible resistance level we may be eyeing would be 1.00324.
If price doesn’t break the resistance level, we may see price retrace its steps back to support level 1.00538.
2. EUR/CAD
EUR/CAD on the 4 hours chart just broke a key support level (1.50886).
After price was rejected from a weekly ascending trendline, price broke through the current support level of an ascending channel. If the breakout is backed by a bearish confirmation, we may see price driven by bears to the next possible support level (1.49822)
If price is rejected by the present support level, we may see the bulls take price back to a familiar resistance level (1.52038).
It’s Friday guys, please be careful how you trade the market. Let’s record this week as a WINNER.
Thanks for your time here fam, I can’t appreciate you guys enough.
Wishing you all a great weekend
Stay blessed.
