Whether you like trading trends or ranges, I got yo back with these hot forex trade opportunities on EUR/USD and CHF/JPY. Check it!
EUR/USD is back at the 1.1550 psychological handle, which has been serving as support for the pair since late May. Think the euro is in for a bounce against the Greenback?
Stochastic looks like it’s about to leave from the oversold region, so the bulls have one more reason to jump in.
Buying at current levels could get you a good reward-to-risk ratio especially if you aim for the range resistance near the 1.1800 MaPs.
Here’s one for my trend-trading brothas out there! CHF/JPY is chillin’ like ice cream fillin’ near the 111.75 mark, which is right smack at the rising channel AND the 200 SMA on the 4-hour time frame.
Stochastic is also flashing an oversold signal, so you might want to get your trading plans ready in case we see a bullish momentum.
You could buy at current levels and aim for the previous highs near 113.00 if you’re one of them franc bulls. If you believe that the yen will see more gains, however, then you could also wait for the pair to trade below the channel and trade a downside breakout instead.
Whichever bias you choose to trade, make sure you practice good risk management when you execute your trades, aight?