Can you believe it’s already the middle of the week? Get over the mid-week hump by taking a look at these hot forex trade opportunities on AUD/USD and GBP/JPY!
AUD/USD just hit the .7150 area, which lines up with a mid-range resistance on the 4-hour time frame.
What makes the setup more interesting is that stochastic is flashing what looks like a bearish divergence on the chart.
Will the Aussie turn from the mid-range level? Or can the bulls extend their reign until the pair hits range resistance near .7300?
Shorting at the first signs of bearish momentum could still get you decent pips especially if the Aussie ends up falling to its .7050 support.
If you’re seeing more Aussie strength, however, then you might want to wait until AUD/USD clears the mid-range resistance before you place any orders.
Here’s a simple trend play for ya!
GBP/JPY is testing the 144.50 handle that’s right smack at the 200 SMA on the daily time frame. What’s more, it’s also just below the falling trend line that hasn’t been broken since February 2018!
The pound has yet to show bearish candlesticks that could start a fresh bearish momentum, so y’all still have time to prepare your trading plans if you think that Guppy will drop back down to its 135.00 lows.
Think the pound will actually break above the trend line this time? No worries, you can also wait until the pair breaks above the trend line before you target areas of interest closer to the 149.50 and 153.00 previous resistance levels.