Welcome to a model spankin’ new buying and selling week!
Whether or not you want development trades or if reversal setups are extra your factor, I obtained you lined with every day chart setups on EUR/USD, WTI crude, and FedEx Company.
Verify them out to see if one or two (or ALL) of those charts can get you your first earnings this week!
FedEx Company: Day by day
FedEx Company (FDX) has been having fun with a pleasant upswing because the begin of Might when it discovered help from the $197.50 ranges.
The bullish run discovered resistance on the $239.00 zone, nevertheless.
And why not? As you’ll be able to see, $239 is true across the 200 SMA and the highest of a descending channel on the every day time-frame.
The cherry on the bears’ candy setup is a Taking pictures Star-like candlestick on the 200 SMA and the worth’s bearish divergence with Stochastic.
Watch how FDX reacts to the 200 SMA to see if we’re in for a downswing or only a pause earlier than an upside breakout!
U.S. WTI crude oil has had a slippery week final week when it obtained rejected on the $123.00 mark!
The commodity is now buying and selling nearer to $109.00, which isn’t removed from a development line help on the every day.
However wait, there’s extra! Discover how value is buying and selling juuust above the 100 SMA.
If the uptrend that began in late 2020 is any clue, WTI would possibly react to the 100 SMA. Merchants also can take cues from the 100 SMA widening its hole in opposition to the 200 SMA and leap on a possible uptrend continuation.
Commodity bears and short-term merchants can reap the benefits of WTI’s sturdy downswing by aiming for the areas of curiosity that we’ve marked.
Should you’d slightly purchase WTI, then you definitely would possibly need to look forward to a few bullish candlesticks or a retest of the development line and 100 SMA help ranges.
Hollah to da foreign exchange tradahs!
EUR/USD is sporting a doable Double Backside scenario because the pair finds help from the 1.0400 main psychological deal with.
Stochastic can be on the bulls’ facet after simply leaving the oversold area.
EUR bulls should buy at present ranges and take earnings at a possible check of the 1.0775 Double Backside “neckline” close to 1.0775. Extra conservative merchants also can wait to purchase after a Double Backside breakout above the 100 and 200 SMAs on the every day.
Not a fan of the euro? Look out for momentum after a rejection of the “neckline” and 100 SMA ranges that we’re eyeing to see if EUR/USD’s downtrend nonetheless has legs!