Whattup, brothas! I’m servin’ a break-and-retest situation on AUD/USD and a breakout on USD/CHF today. Get ’em while they’re hot!
As you can see, AUD/USD hit resistance at .7300 after breaking above a long-term falling trend line earlier this month.
Think the Aussie bulls are gearing up for another leg higher? A long trade at the earliest signs of a bounce is a good idea especially if you’re betting on the pair jumping back above .7300.
If you think that last week’s spike was just a fakeout, though, and that AUD/USD’s downtrend will extend to this week, then y’all might want to wait until the pair dips firmly below the SMAs before placing your orders.
Whichever bias you choose to trade, make sure you practice good risk management when you execute them trading plans, aight?
Breakout alert! After knocking on parity since last year, dollar bulls finally broke through and USD/CHF is now trading at around 1.0100.
Are we looking at a breakout that will take the dollar to its 1.0150 or even 1.0300 highs? Or is this just a fakeout that will soon drag USD/CHF back down to the ascending triangle on the daily time frame?
Watch this one closely, fellas!