Wakey wakey, pips and bakey! I’m servin’ up simple forex trade opportunities on GBP/USD and NZD/USD for ya today. Get ’em while they’re hot!
Remember that downtrend that we spotted a few days back? Well, that didn’t work out. Instead, Cable rose nice and steadily on the 1-hour time frame to eventually hit a high near 1.3350 yesterday.
What makes this setup interesting is that the pair has dropped back to the 1.3200 area, which lines up with a rising channel AND 200 SMA support.
The pair has popped up some and stochastic has jumped out of oversold status since then, but there’s still room for a long trade if you think that the pound will make new weekly highs against the Greenback this week.
Who’s up for trading this one? Holler if you are!
Breakout alert! NZD/USD has broken below a long-term range to trade near the .6650 levels before popping back up to the .6850 area.
As you can see, .6850 is right smack at the range support that we’re talking about. Not only that, but it also marks the 38.2% Fib retracement for the pair!
Are we looking at a break-and-retest situation here? Shorting at the earliest signs of bearish momentum could get you decent pips especially if you believe Kiwi will make new yearly lows against the dollar over the next couple of days.
Just make sure you use wide stops, aight? Remember that longer time frames mean crazier volatility!