Whether you like trading comdolls or currency crosses, I got yo back with these hot forex trading opportunities on EUR/GBP and NZD/USD. Get ’em while they’re hot!
Looks like NZD/USD is ready for your shorts! The pair is hanging at the .6550 area, which is near the descending channel AND 100 SMA resistance on the 4-hour time frame. Not only that, but there might be a low-key divergence on the chart!
Think the bears are up to something? Shorting at current levels would give you a good reward-to-risk ratio especially if you place your stops just above the channel and aim for new lows way below .6500.
If you’d rather buy the Kiwi, however, then you could also wait for NZD/USD to break above the resistance levels we’ve identified.
If you’d rather trade ranges than trends, then this one is for you! As you can see, EUR/GBP is having trouble trading above the .8850 handle that has been an area of interest for the pair since mid-2018.What makes the setup more interesting today is that stochastic is also flashing an overbought signal.
I don’t see no bearish momentum just yet, so y’all might want to wait for another retest of .8850 or a coupla bearish candlesticks if you plan on shorting the euro.
If you’re looking for an upside breakout for EUR/GBP, then you could also wait for a convincing break above .8850 before you target those previous highs.
Whichever bias you’re trading this week, make sure you place your stops somewhere safe enough, ya hear? No use analyzing them setups if you get stopped out by a bit of volatility!