Ready for this weekend’s fireworks?
Check them out and see if you can bag last-minute trades before the week ends!
In case you missed it, CAD/CHF has been trading in an uptrend since the middle of June.
This time around, the pair looks ready to complete a continuing divergence signal as it bounces from the channel support.
But wait! Notice that the 100 and 200 SMAs are doing a good job of limiting the Loonie’s gains. This means that you gotta at least wait for a clear break above the SMAs if you’re aiming for previous highs like .7480 and .7500.
Not a fan of the Loonie? Watch how CAD/CHF reacts to a possible retest of the trend line support. Make sure you’re ready to trade a breakout once CAD/CHF consistently trades below the support levels that we’re watching!
Here’s one for the range playas out there!GBP/USD is now 60ish pips away from the 1.3700 major psychological (MaPs) handle after falling by more than 200 pips since last week.
As you can see, the 1.3700 MaPs has been a BFD for pound traders since the start of the year.
Will the level hold as range support in the next couple of days? Stochastic‘s oversold signal is already hinting of selling exhaustion so you may want to start making trading plans for a possible range play.
If GBP/USD gets fresh bearish momentum, though, then we could see the pound break below the 1.3700 inflection point and maybe revisit previous support levels near 1.3350.