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Sup, forex brothas!

Whether you like trading the majors or you’re more into comdoll crosses, I got yo back with these short and swing trade opportunities on EUR/USD and AUD/NZD.

Get ’em while they’re hot!

EUR/USD: 1-hour

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

Is it me or has EUR/USD peaked in the short-term?

One possible reason is that the euro has reached the 1.1750 handle, which had served as range support back in August.

What makes the chart more interesting today is that there’s a low key double top on the 1-hour chart just as Stochastic is forming a possible bearish divergence.

Shorting at current levels would yield boss-level risk ratios especially if EUR/USD drops back down to its September lows.

If you think that euro bulls are just taking a breather, however, then you can also wait until EUR/USD trades above 1.1750 and aim for potential retests of the 1.1825 and 1.1900 previous areas of interest.

AUD/NZD: 4-hour

AUD/NZD 4-hour Forex Chart
AUD/NZD 4-hour Forex Chart

Who’s up for some comdoll trend trading? I hope you are!

AUD/NZD is having trouble making new highs above 1.0825, which isn’t surprising since the level lines up with the 4-hour 100 SMA and a channel resistance that hasn’t been broken since mid-August.

Think the Aussie will extend its downtrend against Kiwi? You can short at current prices and place your stop losses just above the SMAs for a decent risk ratio.

If you’re one of them Aussie bulls, though, then you can also bet on an upside breakout as soon as AUD/NZD comfortably trades above its trend line resistance and sees some bullish momentum.

Good luck and good trading this one!

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line