Can you believe it’s the last trading day of the week? Get your last-minute pips by taking advantage of these hot forex opportunities on CAD/JPY and EUR/CHF!
EUR/CHF is turning lower from the 1.0970 mark, which isn’t surprising since the level has been an area of interest for the pair since late July.
Can the bears get enough momentum to drag the euro to the 1.0900 mid-range support or the 1.0850 range floor?
Shorting at current levels would still give you a good reward-to-risk ratio especially if you place your stops above September’s highs.
Not confident in buying the franc? You can also wait for EUR/CHF to break above the 1.1000 psychological handle and aim for possible retests of the 1.1050 previous area of interest.
Whichever bias you’re trading, you better make sure your trading plans are as tight as your post-holiday pants!
It’s on the move, yo! After days of chillin’ at the descending triangle resistance and 100 and 200 SMA levels, CAD/JPY is now flirting with the 80.00 major psychological handle that also serves as the triangle’s support.
Will the bears get enough momentum to break through the 80.00 mark? Or will the bulls attack and force another retest of the triangle resistance?
I’m not seeing enough momentum for a breakout or a bounce, so you might want to wait a bit before you place any orders.
Whether you’re taking advantage of a support bounce or plotting a breakout trade, don’t forget to keep your stop losses wide, ya hear?
Comdoll crosses like these tend to see higher volatility than the majors, so you should allow some wiggle room if you don’t want to miss out on a big move because of a tight stop.
Good luck and have a great weekend, brothas!