Whether you like trading swing-term setups or longer-term charts, I got yo back with these forex trade opportunities on GBP/USD and CHF/JPY. Check ’em out while you still can!
First up is a nice and simple resistance play on CHF/JPY. As you can see, the bears are doing a great job of defending the 111.75 handle.
Will the bears defend the level another time this week? Stochastic is on their side with an overbought and even low key bearish divergence signals.
Shorting at current levels could get you a good reward-to-risk ratio especially if you aim for the previous lows near 109.25. Just make sure you follow your trading plans to a T when executing your trades, aight?
Here’s one for retracement players out there! Cable is climbing back up after finding support at the 1.3250 area.
The 1.3600 area is the level to watch, as it lines up with the 200 SMA as well as a previous support and resistance area.
Will the bears block the bullish momentum? The pair has some pips to go before hitting the level, so y’all still have time to decide which side you’re going to trade.
A break above the resistance levels that we’re watching could lead to an extension of the uptrend on the chart. But if the pound DOES see resistance around the area, then shorting could be your best bet.
Watch this one closely, brothas!