Hey guys! I’m seeing a possible range play on EUR/USD and a breakout on USD/JPY! What do you think of these forex setups?
As you can see on the chart above, the 1.1100 handle did a really great job at holding off EUR/USD sellers. But do the bulls have enough muscle in their hustle to push it all the way to 1.1400? the 1.1250 area is a tricky one for bulls and bears, as it’s right in the middle of the range. Not only that, but it’s also where the closely-watched 100 and 200 SMAs are.
What do you think? Is the mid-range area a good place to sell or should I wait for more confirmation before I pull the trigger?
This one is for forex breakout warriors! USD/JPY is lollygagging at a possible symmetrical triangle on the 1-hour time frame. In fact, the pair has been that way since the Fed has killed the September rate hike party. Will we finally see one-directional trading from the pair or will it keep on trading tightly until we see another monster catalyst?
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.