EUR/USD is breaking a development line assist whereas NZD/USD is sporting a bearish reversal sample.
Who’s up for buying and selling these USD pairs?
If you’re, then you definately higher not miss these alternatives!
EUR/USD has been exhibiting increased highs and better lows since rocketing from its October 2022 lows close to .9600.
But is the occasion over for EUR bulls?
The 100 SMA has crossed over the 200 SMA, one thing that hasn’t occurred since November when EUR/USD noticed a bullish crossover that heralded months of good points.
Price motion can be supporting some promoting as EUR/USD breaks a development line assist that hasn’t been damaged since November.
Selling at present ranges and inserting stops simply above the damaged development line would make for a great commerce for those who’re satisfied that EUR/USD will quickly commerce a downtrend.
But if final week’s breakout seems to be fakeout-y to you, then you may as well design buying and selling plans round a return to EUR/USD’s uptrend.
Long-term playas collect ’spherical!
NZD/USD is testing what seems to be just like the “neckline” of a Double Top sample on the each day timeframe.
The sample would’ve been attention-grabbing sufficient, however the neckline additionally confirmed up on the .6200 psychological stage AND is simply above the 100 and 200 SMAs on the chart.
Which approach will NZD/USD go?
A bearish break under the Double Top “neckline” units NZD up for a 300ish-pip drop coinciding with the peak of the sample.
On the opposite hand, Stochastic is chillin’ at its “oversold” space and the 100 SMA seems to be set for a bullish crossover.
If NZD/USD bounces from the .6200 space of curiosity, then the pair may revisit the .6400 inflection level and even the .6525 earlier highs.