Welcome to the last trading day of the week, brothas! Let’s see if we can find bargains from EUR/CHF and NZD/JPY’s setups today. Check it!
I spy with my eye a potential reversal in the making! As you can see, NZD/JPY is consolidating in a 75-pip range after rocketing hundreds of pips in the last couple of weeks.
What makes the setup more interesting is that the 100 SMA has also just crossed below the 200 SMA.
Will the bears win this round of tug-o-pips and result to a reversal? Or will the bears power through and extend Kiwi’s gains?
The pair hasn’t broken out of the range yet, so y’all still have time to whip up your trading plans to plan for either scenario.
Here’s one for my trend-trading friends out there! EUR/CHF is about to hit the 1.1370 area of interest, which lines up with a mid-channel resistance on the 4-hour time frame.
Stochastic hasn’t reached overbought status and the pair has yet to see bearish momentum, so y’all might want to wait before you jump on this downtrend.
If you’re not too sure about the euro’s bearishness in the near future, then you could also wait for a retest of the channel resistance closer to the SMAs.
Which way will the euro go? Watch this one closely, fellas!