Can you believe it’s already the last trading day of the week?
Which one will you most likely trade?
CAD/JPY: 1-hoursupport at the 100 SMA, which isn’t too far from the broken trend line resistance.
Think we’re seeing a fakeout instead? You can wait for CAD/JPY to trade back below the trend line or place orders somewhere below the 78.50 triangle support.
Whichever bias you choose to trade, make sure you’re practicing your best risk management plays, mmmkay?
If you’re not a fan of missing breakouts, then you’re gonna looooove what’s happenin’ on GBP/CHF!
The pair is throwin’ out spikes near the 1.1825 handle that has served as resistance last week.Thing is, the pound is also showing us higher lows on the 1-hour time frame.
Can the bears keep 1.1825 intact for another day? Or will the bulls finally push the pound to a more obvious upswing?
Shorting at the firsts signs of bearish momentum would mean you getting a head start at targeting the trend line support.
If you think that the bulls will soon get their breakout, though, then you’ll want to wait for at least a sustained break higher and maybe even a bullish momentum before you eye previous inflection points like 1.1925 or 1.2000.