EUR/USD: 1-hourEUR/USD is trading around the 1.0950 handle, which is right smack at an ascending channel AND 100 SMA support on the 1-hour time frame.
Buying at the first signs of bullish momentum would give you the best reward-to-risk ratio if the bulls hold the fort and EUR/USD ends up retesting last week’s highs just below 1.1200.
Not a fan of the euro these days? That’s alright, too. You can wait for a clear break below the SMAs and aim for previous areas of interest closer to 1.0820 or 1.0650 instead.
Watch this one closely, brothas!
Pullback warriors huddle up!
AUD/CAD is almost at .8900, which lines up with not only the 100 and 200 SMAs but also a falling trend line that hasn’t been broken since November 2018. That’s legit longer than Miley Cyrus’ marriage to Liam Hemsworth!The .8900 handle is a level to watch because it presents a good entry level if you’re planning on riding AUD/CAD’s downtrend.
If you think that the Aussie’s upswing against the Loonie will be enough to break through the trend line, however, then you can also wait for a break above the SMAs and then target previous resistance levels like .9125 or .9350 instead.
Not sure where to place your stop loss levels? You can take cues from MarketMilk’s handy AUD/CAD volatility analysis!