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Not a fan of trading the dollar during the NFP release?

Don’t worry, I got yo back with not one but TWO euro crosses on today’s canvas.

Check out what I’ve spotted on EUR/JPY and EUR/AUD‘s charts!

EUR/JPY: 1-hour

EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

EUR/JPY is poppin’ up long wicks after completing a double top breakout.

What makes its consolidation interesting today is that it’s happening around the 123.25 level, which lines up with resistance from late September AND the 200 SMA on the 1-hour time frame.

The cherry on top of this sweet setup is Stochastic just leaving the oversold territory.

Are we looking at a resistance-turned-support situation over here? Buying at the first signs of bullish momentum would yield a good reward-to-risk ratio especially if the 200 SMA holds as support and EUR/JPY jumps back up to its double top highs.

A clear break below the 200 SMA, however, opens the euro to a drop back down to the 122.60 or 122.40 previous lows.

EUR/AUD: 4-hour

EUR/AUD 4-hour Forex Chart
EUR/AUD 4-hour Forex Chart

A couple of days ago we were looking at EUR/AUD’s daily range for a potential move lower.

Well, I hope you took notes and traded the setup! EUR/AUD is now trading at 1.6375, which is just above the 1.6350 mid-range zone.

You can still buy at current prices if you believe that EUR/AUD has bounced from the mid-range support and is one it’s way back to the 1.6550 range resistance.

Still not a fan of the euro? You can also wait for a breakout below the mid-range support or the SMAs before you aim for previous areas of interest like 1.6125.

Forex Chart Settings:

Slow Stochastic:?14,3,3
100 SMA:?Blue line
200 SMA: Red line