Which setup will you most likely trade?
Check out what I got for ya!
If you had put on your pattern trading hats back then, then you would’ve benefited from USD/CHF hitting the 100 SMA before breaking below the triangle support.Don’t worry if you missed the move though! The dollar looks ready to bounce from its weekly lows to retest the .9375 support.
Good luck and good trading this one!
GBP/NZD is having trouble sustaining a sharp downswing after already falling by a cool 1,000 pips since late April.
What makes its current levels interesting today is that it lines up with an ascending channel support on the daily time frame.Will we see the pound bounce against Kiwi anytime soon? Buying at current levels could be tricky since the SMAs are pointing to short-term bearish pressure for the pair.
If you think that the pound isn’t done falling against Kiwi just yet, then you can also make plans for trading a downside breakout that could drag GBP/NZD all the way to its 1.8650 and 1.8375 previous areas of interest.