Happy Friday the 13th, errbody!
See if you can get lucky with today’s short and swing-term opportunities on EUR/GBP and NZD/USD.
Check them out!
EUR/GBP: 1-hour
Trend warriors huddle up! EUR/GBP just turned lower after hitting a channel resistance that was juuuust under the .9000 psychological handle.
Is the euro in for more losses against the pound? Shorting at current levels would still give you a good reward-to-risk ratio especially if you place your stops just above the channel and aim for the previous lows near .8800.Not a fan of the euro? That’s aight, you can also wait for a clear break above the channel and then shoot for retests of the .9100 and .9150 previous resistance levels.
Whichever bias you end up trading, make sure to double-check your orders so you don’t get “bad luck” from unnecessary mistakes!
NZD/USD: 4-hour
After hitting resistance at .6900, Kiwi bulls will look for new levels to buy the comdoll.
The .6780 handle is a good candidate as it lines up with a previous resistance AND a 38.2% Fib retracement on the 4-hour time frame.NZD/USD is only a few pips away from the level so y’all gotta finalize them trading plans if you’re planning on hitting this one!
Buying at the first signs of a bounce is a good play if you believe that NZD/USD will make new November highs next week.
If you’d rather short the Kiwi against the dollar, though, then you can also wait for NZD/USD to break below the .6780 support and then see how it reacts to the lower Fib retracement levels.
Forex Chart Settings:
Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line