Where the swing traders at?
Check them out, yo!
About a month ago we identified EUR/USD’s range and speculated on a possible bounce to the 1.0970 range resistance.Well, EUR/USD ended up (temporarily) breaking below the 1.0800 support but the bulls managed to keep the range relevant for EUR/USD’s trading.
Today EUR/USD is chillin’ like a villain at the 1.0970 zone that lines up with the 4-hour range resistance.
If you think that the euro is due for an upside breakout against the dollar though, then you can also wait for a clear break above 1.0970 and then aim for previous highs near 1.1030 or 1.1060.
Watch this one closely, yo!
Breakout alert! Earlier this week we saw AUD/USD hitting its .6550 range resistance on the 4-hour chart.Looks like the bulls are hungrier than we thought! AUD/USD is now trading just a few pips above the level after reaching a high above .6600 after the breakout.
Buying at current levels would get you in at a good price if you think we’re looking at a break-and-retest situation that would push AUD/USD to previous areas of interest near .6630 or .6660.
Whichever bias you choose to trade, make sure you HAVE a trading plan and that you follow it like yo mommma told you to do it!