Welcome to mid-week buying and selling, errbody!
I’ve obtained my eyes on not one, however TWO comdoll trades immediately.
What do you consider these swing commerce alternatives on NZD/USD and AUD/JPY?
NZD/USD 4-hour Foreign exchange Chart
NZD/USD has been on an uptrend since discovering a backside at first of February.
NZD patrons higher listen 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 degree that traces up with the underside of an ascending channel AND the 100 SMA on the 4-hour timeframe.
Bearish candlesticks have began hinting at hesitation however I’m not seeing bullish stress but so NZD/USD may nonetheless retest the 100 SMA earlier than buying and selling increased.
Whether or not or not NZD/USD dips to the help zone, be certain to stay round and commerce a potential pattern continuation!
AUD/JPY 4-hour Foreign exchange Chart
What’s higher than recognizing a resistance degree?
In case you mentioned “a resistance degree that elements in a chart sample,” then you definately may take house pips immediately!
AUD/JPY is forming a potential Double High sample because it consolidates tightly on the 94.00 psychological deal with. Stochastic can be on the bears’ facet with an overbought sign on the 4-hour chart.
A rejection at 94.00 may drag AUD/JPY right down to the “neckline” of the sample close to 91.00.
A downswing is just not assured although. If AUD/JPY breaks its consolidation to the upside, then we may see AUD revisit its 2015 highs close to 96.00 and 97.00.
