Welcome to the last trading day of the week! If you’re planning on getting your last-minute pips, then you might want to check out these long-term forex trade opportunities on AUD/USD and EUR/CHF.
EUR/CHF is testing the 1.3200 major psychological handle, which is right smack at a descending triangle resistance AND the 100 SMA on the daily time frame.
Will the bears hold the fort around the MaPs? Or will the bulls force an upside breakout today?
The 1.1450 and 1.1500 handles are good places to target if you think that we’ll see an upside breakout soon. If you’re one of them euro bears, however, then you could also aim for a retest of the triangle’s 1.1250 support.
Watch this one closely, brothas!
I spy with my cool, blue eyes a potential double bottom breakout in the making!
AUD/USD found support around the .7000 MaPs and is heading fast for the “neckline” around the .7400 area of interest.Double bottom patterns tend to see breakouts as strong as the distance between a bottom and the neckline. That means we’re looking at a possible 400-pip move in this case!
The pair has a couple hundred pips to travel yet, however, so y’all still have time to whip up your trading plans if you’re planning on trading this one.