Whether you like trading comdoll crosses or you’re more into the European cross currency pairs, I got yo back with these forex trade opportunities on AUD/NZD and EUR/CHF. Check it out, yo!
Remember that potential break and retest play that we were looking at a few days back? Well, here’s your chance to jump in if you’re one of them Aussie bears!
AUD/NZD is having trouble trading above 1.0650, which isn’t surprising since it the area is right around the broken rising trend line AND the 200 SMA on the daily chart.
In this case, stochastic’s overbought signal could attract some market bears into action. We have yet to see momentum, though, so y’all might want to take a chill pill and wait a bit before jumping in.
Not a fan of the Kiwi? No problemo! You can also wait for AUD/NZD to jump back above the trend line and execute some fakeout plays from there. Just make sure you’re practicing good risk management habits, aight?
Resistance alert! EUR/CHF bears are doing great at defending the 1.1450 handle that has been serving as resistance since August last 2018.
Can the bears hold the fort for another day? Or will the bulls finally get enough momentum to force an upside breakout?
A break above 1.1450 could lead to a visit of the 1.1700 area of interest. Meanwhile, another rejection at the resistance level could drag EUR/CHF back down to 1.1300 or 1.1200.
Which way do you think the euro will go? Keep close tabs on this one, folks!