Whattup, forex brothas! We’re taking a look at a short-term trend on EUR/CHF and a longer-term range on NZD/USD. Check it out!
Here’s a simple trend play for ya! EUR/CHF looks like it’s turning down from the 1.1550 area, which is right around a falling channel resistance AND the 100 SMA on the 1-hour chart.
Think the bears will get their momentum? Shorting at current levels could still give you a decent reward-to-risk ratio especially if you aim for the previous lows near 1.1500.
Just make sure you practice good risk management when you execute your trading plans, aight?
A couple of days ago we speculated that NZD/USD was ready to turn lower after encountering resistance around the .7050 psychological handle.
Well, the bears sure feasted on that party! The pair is now nearing the .6850 long-term range support that hasn’t been broken in at least TWO years.
Stochastic just hit oversold territory, so y’all can expect some bulls to attack. Question is, will they get enough momentum to defend the range for another day? Watch this one closely, fellas!