Can you believe we’re already at the end of the trading week? Get yo last-minute pips with these trend and range setups on NZD/USD and EUR/CAD!
First up is a nice range trade on NZD/USD. As you can see, Kiwi is hanging around the .6800 psychological handle, which marks the mid-range level for NZD/USD.
What makes the setup more interesting is that stochastic is about to hit oversold territory.
Will we see a bounce from the level? Or will the bears maintain their momentum and force a retest of the .6725 range support?
Watch this one closely, brothas!
Range-trading not your style? Here’s a trend play for ya! EUR/CAD is flirting with the 1.5200 major psychological handle, which is just above a rising trend line that hasn’t been broken since the start of the year.
Are we looking at a long opportunity here? Buying at the earliest signs of bullish momentum could get you a decent reward-to-risk ratio especially if you aim for the previous highs near 1.6100.
If you’re one of them euro bears, though, then you could also wait for a decisive break below the trend line that we’ve marked and aim for a retest of the 1.5000 or even 1.4500 areas of interest.