Possible Break Out of the Pennant?
EURUSD – As you may have seen our market wrap up on Friday we did mention that we thought EURUSD would start to move up. After the Italian referendum although the EURUSD took a hit the market picked up from double bottom to recover very quickly. Accordingly, it looks like we may see the EURUSD at the noted levels in the chart if the price breaks above the 1.0690 resistance. Also be mindful as Draghi the head of the ECB will talk today.
GBPUSD – Possible break out of the pennant? If so breakouts are good to trade in the break out direction. If GBPUSD should break that resistance it may reach the price targets towards the upper end of the channel being 1.2800 – 1.2850.
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***Information contained in this news letter are gathered from third parties and should not be regarded in any way as trade advice or recommendations by CM Trading. CM Trading does not recommend or advise traders or investors in their decision making, but merely provides information from the market for its clients as additional information being made available as per the events occurring in the financial markets.
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