Whattup, forex playas!
Get ’em while they’re hot!
GBP/CHF has been giving us lower highs since the start of the month but it looks like the bulls are only willing to put up with the bears’ shenanigans until the 1.2110 support.Are we looking at a descending triangle in the making? Don’t forget that descending triangles still represent indecision, which means that GBP/CHF could still break in either direction.
A break below the 1.2110 support could drag the pound down to the 1.2000 previous resistance level.
Meanwhile, a break above the trend line would extend GBP/CHF’s uptrend and maybe take the pair to the 1.2250 area of interest in the higher time frames.
Keep close tabs on this one, will ya?
Is it me or is EUR/USD poppin’ up interesting wicks around the 1.1800 major psychological handle? That’s right at a trend line AND 200 SMA support on the 4-hour chart, yo!Think the euro is about to revisit its 1.2000 highs? Buying at current levels would yield the best reward-to-risk ratio if you’re planning on trading the slow but steady ascending channel.
If you’re not convinced that the euro will see gains against the dollar this week, however, then you can also wait for a clear break below 1.1800 and the 100 SMA and then aim for a drop to the 1.1700 area of interest.