Welcome to mid-week buying and selling, errbody!
I’ve obtained my eyes on not one, however TWO comdoll trades at this time.
What do you consider these swing commerce alternatives on NZD/USD and AUD/JPY?
NZD/USD has been on an uptrend since discovering a backside in the beginning of February.
NZD consumers higher concentrate as a result of there could also be a possibility to leap on the uptrend!
See, the divergence between the 100 and 200 SMAs means that the swing-term uptrend stays intact. However NZD/USD is sort of on the .6915 stage that traces up with the underside of an ascending channel AND the 100 SMA on the 4-hour time-frame.
Bearish candlesticks have began hinting at hesitation however I’m not seeing bullish stress but so NZD/USD might nonetheless retest the 100 SMA earlier than buying and selling greater.
Whether or not or not NZD/USD dips to the assist zone, make certain to stay round and commerce a doable pattern continuation!
What’s higher than recognizing a resistance stage?
In the event you stated “a resistance stage that components in a chart sample,” then you definitely would possibly take residence pips at this time!
AUD/JPY is forming a doable Double Prime sample because it consolidates tightly on the 94.00 psychological deal with. Stochastic can also be on the bears’ aspect with an overbought sign on the 4-hour chart.
A rejection at 94.00 might drag AUD/JPY right down to the “neckline” of the sample close to 91.00.
A downswing just isn’t assured although. If AUD/JPY breaks its consolidation to the upside, then we might see AUD revisit its 2015 highs close to 96.00 and 97.00.