MarketBreakdown | EURJPY, EURCHF, GBPCAD, GBPCHF
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ EURJPY - Daily time frame 🇪🇺 🇯🇵
I see the signs of a bullish accumulation:
the price has already set two equal highs and keeps setting higher lows.
I believe that we will see a breakout attempt of a current horizontal resistance.
Daily candle close above that will trigger a bullish trend continuation to new highs.
2️⃣ EURCHF - 3 days time frame 🇪🇺🇨🇭
The pair is approaching a solid horizontal zone of demand.
Be prepared for a breakout attempt.
Its bearish breakout will trigger a bearish continuation to a year's low.
3️⃣ GBPCAD - Daily time frame 🇬🇧🇨🇦
As I predicted, GBPCAD dropped nicely.
The pair formed a double top formation with a lower high.
Its neckline violation signifies a highly probable further decline.
4️⃣ GBPCHF - Monthly time frame 🇬🇧🇨🇭
The pair is currently approaching a wide weekly demand cluster.
Taking into consideration that the market is very oversold, I believe that we will see a pullback from that structure soon.
Look for a confirmation on lower time frames to buy.
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