Welcome to the last trading day of the week, brothas! Let’s end the week on a strong note with these hot forex trade opportunities on AUD/JPY and EUR/GBP. See if you catch pips with these charts!
Breakout alert! As you can see, AUD/JPY is confined in what looks like an ascending triangle on the 1-hour time.
The bears are currently holding the fort around the 89.00 psychological handle, but the pair’s higher highs tell us there’s enough bullish pressure to keep the uptrend going.
Think the Aussie will break above 89.00? A move above January’s highs could boost the pair all the way to 90.00. On the other hand, a break below the neat trend line we’re watching could drag the pair to the 88.00 area of interest.
Whichever direction you choose to trade, make sure y’all have your trading plans set to trade a breakout!
Range traders huddle up! EUR/GBP is lollygagging around the .8800 psychological handle, which has been serving as support since mid-December.
With stochastic chillin’ like a villain on oversold territory (and even low key forming a divergence), you can bet your pips that other traders are already watching this one.
Question is, will the euro see another bounce against the pound? Or will the common currency finally cry uncle and make new January lows this time around?
Watch this one closely, fellas!