Think Cable is done with volatility? Not so fast! The major pair is still trading on a 200-pip range on the 1-hour chart. Heck, it’s even testing the mid-range support as I write this! You could get a few pips from this baby if you use tight stop losses and manage your risk around the support and resistance levels.
Love the comdolls? If you do, then this setup is for you! NZD/USD just bounced off a channel support on the 1-hour chart. A stop loss just below the support could get you a good risk ratio if you aim for the top of the channel around the .8400 area. You gotta be realistic with your targets though, as the pair isn’t likely to move much with the holidays just around the corner.
I spy with my cool blue eyes a possible double top on EUR/USD’s daily chart! The euro had trouble breaking above 1.3900 and it looks like it’s now headed back down. Think it will test the possible neckline around the 1.3400 area? Better watch this one closely, bros. This could be your one good trade before the end of the year!
To get the complete picture and avoid getting blindsided by economic data, you also have to do your fundamental analysis.