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If break-and-retest plays are your jam, then I’ve got a couple of setups right up your alley for today.

Check out these pullback levels on GBP/JPY and EUR/CAD right here!

GBP/JPY: 4-hour

GBP/JPY 4-hour Forex Chart

GBP/JPY 4-hour Forex Chart

Guppy seems to be running out of steam on its rally, as the pair hit a roadblock around 164.75. This could be a good chance for more pound bulls to join in!

What’s the best price to enter?

The Fibonacci retracement tool has some suggestions, and I’ve got my eyes locked on the 50% to 61.8% levels. The former lines up with an area of interest around the 158.00 major psychological mark while the latter is right smack in line with the moving averages.

The 100 SMA also just made a fresh bullish crossover from the 200 SMA, confirming that support levels are more likely to hold than to break.

Stochastic has a bit of room to slide before reflecting exhaustion among sellers, though, so I’d probably wait for it to turn higher before going long.

EUR/CAD: 1-hour

EUR/CAD 1-hour Forex Chart

EUR/CAD 1-hour Forex Chart

Don’t look now, but EUR/CAD just busted through its descending trend line that’s been holding for the past couple of weeks!

This means that a reversal from the downtrend might be in order. However, technical indicators are still pointing to the presence of bearish vibes.

The 100 SMA is below the 200 SMA to indicate that resistance levels are likely to hold while Stochastic is heading south from the overbought zone.

Then again, these might be hinting at a possible retest of the broken trend line before the pair heads any further north.

The Fib tool reveals that the 50% level is closest to the former resistance, which also coincides with the 1.3800 handle. If any of the Fibs hold as support, EUR/CAD could make its way back up to the swing high at 1.3938 and beyond!