Welcome to a brand spankin’ new trading year, brothas! Ready to catch some pips? Get started with these hot setups on USD/CHF and EUR/JPY!
It looks like USD/CHF has finally reached its ascending triangle support!
The pair recently hit the .9800 major psychological handle, which lines up with a rising trend line that hasn’t been broken since February last year.
A long trade at the earliest signs of bullish momentum could get you in on a good spot if the pair does end up breaking above the 1.0050 triangle resistance.
Meanwhile, a break below the trend line could take the dollar down to the .9750 or even the .9650 previous areas of interest.
What do you think? Will the trend line hold for another day? Or will third time be the charm for the bears?
Range traders huddle up! EUR/JPY is trading around the 125.50 levels, which is right smack at a range support that has been holding since May 2017.Stochastic is now chillin’ in the oversold territory, so y’all can bet your pips (with proper risk management, of course) that other bulls are already waiting for a bounce.
Buying at current levels would give you a good reward-to-risk ratio especially if you aim for the range resistance near 132.00.
If you’re looking to trade a downside breakout, however, then you’ll want to watch out for potential support levels near 123.50.
Good luck and good trading this one!