Hey guys! I’m seeing a possible range play on EUR/USD and a breakout on USD/JPY! What do you think of these forex setups?
As you can see on the chart above, the 1.1100 handle did a really great job at holding off EUR/USD sellers. But do the bulls have enough muscle in their hustle to push it all the way to 1.1400? the 1.1250 area is a tricky one for bulls and bears, as it’s right in the middle of the range. Not only that, but it’s also where the closely-watched 100 and 200 SMAs are.
What do you think? Is the mid-range area a good place to sell or should I wait for more confirmation before I pull the trigger?
This one is for forex breakout warriors! USD/JPY is lollygagging at a possible symmetrical triangle on the 1-hour time frame. In fact, the pair has been that way since the Fed has killed the September rate hike party. Will we finally see one-directional trading from the pair or will it keep on trading tightly until we see another monster catalyst?