Whattup, mid-week traders!
Which one will you more likely trade?
GBP/NZD is forming some interesting dojis just under the 1.8950 area, which isn’t surprising since it lines up with the last two weeks’ lows and a mid-range support on the 4-hour time frame.Stochastic is chillin’ like a villain in the oversold territory, so y’all better be ready in case we see some upside action.
Buying at the first signs of bullish momentum is a good idea if you believe that GBP/NZD is headed for its 1.9120 range resistance.
Not convinced that the pound can make pips rain against the Kiwi? That’s aight, you can also start placing them shorts as soon as GBP/NZD dips below 1.8900 and then add up when it falls below the mid-range support.
Here’s one for the trend playas out there!
USD/CHF’s upswing choked around the .8970 zone that’s right smack at a trend line resistance on the daily.Will the trend line hold for another day? Or are we looking at a trend line breakout in the making?
Trend traders who think that USD/CHF’s downtrend is still intact can short at the first signs of bearish pressure and then aim for January’s lows near .8750.
Meanwhile, bulls who are on #TeamBreakout can start to load up as soon as USD/CHF trades (and stays!) above the trend line and the 100 SMA on the chart.