Welcome to a model spankin’ new buying and selling month!
Let’s set you up for wins with not one, however TWO comdoll swing trades.
Try what’s up on EUR/AUD and CAD/CHF’s charts!
First up is a pleasant and easy pattern commerce for the euro.
EUR/AUD is discovering assist on the 4-hour chart’s 200 SMA. That’s additionally proper round an ascending channel assist that hasn’t been damaged since April!
Can EUR prolong its beneficial properties in opposition to AUD?
Shopping for at present ranges or the primary indicators of bullish momentum would yield an excellent threat ratio particularly if EUR/AUD jumps again as much as its 1.5300 Could highs.
Not a fan of the euro? You can even wait to commerce a draw back breakout. NGL, although, a downswing ain’t gonna occur except EUR/AUD firmly breaks its channel and 200 SMA assist.
Whichever bias you select to commerce, ensure to follow good threat administration strikes like yo momma is determined by it!
Right here’s one for breakout followers on the market!
CAD/CHF traded beneath a pattern line assist final week however has additionally discovered assist on the .7475 space.
The pair is now buying and selling nearer to .7600, which traces up with the 38.2% Fibonacci retracement of the final downswing in addition to the damaged pattern line that we’re seeing.
Are we taking a look at a break-and-retest alternative right here?
Look out for promoting strain beneath the pattern line or the 100 SMA crossing beneath the 200 SMA.
If CAD/CHF sees bearish momentum, then y’all can in all probability goal the .7475 earlier assist and even the .7370 space of curiosity.
However for those who see CAD/CHF buying and selling again above the pattern line, then it’s doable that final week’s “breakout” was a fakeout and that CAD/CHF’s uptrend continues to be a go.
What do you assume?