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Happy Friyay, errbody!

It may be the end of the week but NZD/USD and CAD/CHF are presenting opportunities that could get you started on sweet swing trades.

Think you can make pips from these comdoll charts?

CAD/CHF: 4-hour

CAD/CHF 4-hour Forex Chart

CAD/CHF 4-hour Forex Chart

First up is a nice and simple range play on CAD/CHF’s 4-hour time frame.

As you can see, CAD has had a good week against CHF after bouncing from the .7200 psychological handle.

The spotlight is on the bears today as CAD/CHF approaches the .7300 range resistance that the bulls haven’t breached in at least a month. Oh, and look at Stochastic waving the “overbought” signal!

Keep an eye on how CAD/CHF reacts to .7300 to see if there are shorting opportunities.

Selling at a rejection of .7300 or the first signs of bearish pressure would make for a good trade if CAD/CHF drops back down to the .7250 mid-range or .7200 range support levels.

If you see CAD/CHF start to consistently trade above .7300, though, then y’all better get ready to trade a breakout. Just make sure that you’re trading a breakout and not a fakeout!

NZD/USD: Daily

NZD/USD Daily Forex Chart

NZD/USD Daily Forex Chart

Where my trend-trading friends at?

NZD/USD’s months-long downtrend made new lows in January, but it looks like there was enough support to push NZD back up to the .6900 psychological level.

Think NZD/USD will extend its downtrend?

Note that .6900 is right around the 100 and 200 SMAs as well as the 50% Fibonacci retracement of the last big downswing.

Trend playas can short at current levels, place stops just above the trend line resistance, and aim for February’s lows for a good risk ratio.

If you REALLY want to buy comdolls, however, then you’ll want to do it only after NZD/USD clears the trend line resistance on the chart.

Good luck and good trading, errbody!