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Whattup, forex playas!

We’re all about the European crosses today as we explore GBP/CHF’s SMA crossovers and EUR/NZD’s range support level.

Take a look and see if you can sneak in pips from the charts!

GBP/CHF: 1-hour

GBP/CHF 1-hour Forex Chart
GBP/CHF 1-hour Forex Chart

GBP/CHF recently broke above a trend line resistance that may have been part of a descending triangle on the 1-hour time frame.

But that’s not why we’re here today!

See, the upside breakout supports the 100 SMA possibly crossing above the 200 SMA. And if the last six simple moving average crossovers are any clues, then we may be up for more short-term pound gains.

Bulls who see a longer-term upswing can buy at current levels and target areas of interest like 1.2500 or 1.2580.

Meanwhile, bears would have to wait until GBP/CHF slows its upside momentum before considering shorting the pound all the way to its November lows.

EUR/NZD: 4-hour

EUR/NZD 4-hour Forex Chart
EUR/NZD 4-hour Forex Chart

A couple of days back, we speculated that EUR/NZD may get rejected from the 1.6325 range resistance on the 4-hour time frame.

If you had traded the setup, then you would’ve made tons of pips!

EUR/NZD is now trading just under 1.6200 after finding support at the 1.6150 levels. And with Stochastic giving us “oversold” vibes, you can bet that at least some euro bulls are all over this range trade!

A long trade at current levels would yield you a good risk ratio especially if EUR/NZD bounces back up to the 1.6325 range.

If you’d rather short the euro against the Kiwi, though, then you can also design trading plans around a downside breakout from the weeks-long range.

Whichever bias you end up trading, make sure you’re using your best risk management moves when you’re executing your trading plans!