Trade warriors huddle up! I’ve got sweet charts on EUR/CAD and AUD/CHF that you’ll want to look at for the next couple of trading sessions. See if you can make pips off of these!
First up is a nice and simple ascending channel on EUR/CAD’s 4-hour time frame.
Specifically, the pair is hitting its channel support near the 200 SMA and the 1.5200 major psychological area.
Buying at the earliest signs of bullish momentum could get you a good reward-to-risk ratio especially if you aim for the previous highs near 1.5700.
Just make sure to use wide stops, aight? Currency crosses tend to see higher volatility than your regular dollar pairs, so y’all better be ready in case we see strong moves in either direction!
Not interested in trading the Loonie? Here’s one for ya!
AUD/CHF is chillin’ like a villain just below the .7100 MaPs that’s also around the 100 SMA and mid-channel resistance on the daily time frame.
Stochastic is currently flashing its overbought status, so you can bet your pips (with proper risk management, of course) that other traders are already watching this one.
Think the Aussie will see more losses against the franc? Or will it pop up to the channel resistance closer to the .7250 mark before seeing more bullish momentum?
Watch this one closely, folks!