Welcome to a model spankin’ new buying and selling month!
Hit the bottom working with not one, however TWO comdoll trades in the present day.
Try what’s taking place on USD/CAD and NZD/CHF’s longer-term charts!
NZD/CHF Day by day Foreign exchange Chart
I don’t know in case you’ve observed however NZD/CHF has been buying and selling inside a 150ish-pip rectangle sample since July.
The vary is extra attention-grabbing as a result of it’s taking place on the backside of a descending channel on the each day timeframe.
Which means an upside breakout might take NZD/CHF again to the .6100 zone close to the mid-channel ranges the place the 100 and 200 SMAs are additionally hanging out.
Alternatively, a draw back breakout exposes NZD/CHF to a steeper downtrend that would drag NZD to the .5750 and even the .5550 earlier assist zones.
Not feelin’ like holding a NZD/CHF commerce for lengthy?
It’s also possible to make the most of the pair’s still-intact vary and commerce the established assist and resistance zones.
USD/CAD Weekly Foreign exchange Chart
Yo, USD/CAD simply broke above 1.3000! Will this result in extra good points for USD?
I’m trying on the 1.3350 degree that traces up with a mid-range resistance on the weekly timeframe.
Stochastic continues to be in middle-ish floor so USD bulls can nonetheless keep a momentum till USD/CAD hits greater areas of curiosity.
Shorting on the resistance zone might make for a superb commerce in case you’re assured that USD/CAD will drop again to its 1.2050 vary assist.
Should you assume that USD/CAD will bust via the mid-range resistance with none issues, then you can too make the most of the present momentum and purchase USD till the upswing loses momentum.
Good luck and good buying and selling this one!
