Can you believe it’s already the last trading day of the week?!
See if you can get your last-minute pips by checking out EUR/AUD’s trend and USD/CHF’s range setups!
If that’s not enough to get you excited, then you should also know that BabyPips.com’s MarketMilk trend indicator is flashing a “bearish” signal for EUR/AUD’s 1-hour trend.
Shorting at current levels would still give you a good reward-to-risk ratio, especially if EUR/AUD drops to its weekly lows or even makes new November lows in the next couple of trading sessions.
Not comfortable shorting the euro against the Aussie? You can also wait for a break above the trend line that we’ve spotted or maybe even a break above the 100 and 200 SMAs before you pull the trigger on any euro longs.
Whichever bias you trade this week, make sure you’re practicing your best risk management moves so you can minimize your risks and maximize your profits!
Currency crosses not your thing? Here’s a dollar setup for ya! USD/CHF is having trouble making new highs above .9970, which is understandable given that the area has been successfully keeping the bulls at bay since September.
Are we looking at a hot opportunity to short over here? Selling at the earliest signs of bearish momentum would make for a good trade especially if you place your stops just above the range that we’ve identified.
If you’re one of them dollar fans, however, then you could also wait for a break above parity and aim for potential moves all the way to the 1.0100 and 1.0200 previous areas of interests.