Partner Center Find a Broker

Can you believe we’re already into the middle of the week? Get your mid-week pips with a short-term trend on EUR/USD and a long-term range on AUD/JPY!

EUR/USD: 1-hour

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

Trend traders huddle up! EUR/USD is consolidating around the 1.1350 area, which is right smack at a rising trend line retest, 50% Fib retracement, and the SMAs on the 1-hour time frame.

Think the euro will extend its gains against the dollar? Buying at current levels could get you a good reward-to-risk ratio especially if the pair pops up to the 1.1450 previous resistance area.

If you’re one of them euro bears, though, then you might want to wait for a break below the trend line support before executing your sell orders.

Whichever bias you choose, make sure you use good risk management in your trading decision, aight?

AUD/JPY: Daily

AUD/JPY Daily Forex Chart
AUD/JPY Daily Forex Chart

Here’s one for my range-trading brothas out there! AUD/JPY looks like it’s headed fast for the 81.00 major psychological handle that marks a mid-range support on the daily chart.

Stochastic has just left overbought territory, though, so there’s still a chance that AUD/JPY will retest its 79.00 support before seeing bullish momentum.

Where will the Aussie bulls attack? Will they defend the 81.00 mid-range support? Or will the bears drag it to 79.00 before we see some buying interest?

Watch this one closely, brothas!

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line