Welcome to a worth spankin’ contemporary trading week!
Let’s hit the ground running with a trend continuation alternate on WTI oil and breakout opportunities on Ether (ETH/USD) and EUR/AUD.
Bag ’em while they’re hot!
WTI Low Oil: Every day
WTI frightful oil’s uptrend isn’t lowkey with that Dragonfly Doji!
The commodity popped up the reversal candlestick final week, which is attention-grabbing sufficient even sooner than we uncover that it came about on the 200 SMA on the each day time body.
With WTI’s prices also discovering beef up from the 50% Fibonacci retracement and forming a bullish divergence with Stochastic, you’ll be ready to wager that no much less than some oil bulls are procuring for a trend continuation.
Momentum above the $100 psychological level would per chance well perchance result in a retest of the $110 zone attain the 100 SMA or even the old highs attain $120.
Whenever you’re procuring for a bearish reversal, though, then you’ll would like to lend a hand until WTI breaks (and stays) below the 200 SMA. WTI hasn’t traded repeatedly below the 200 SMA since the SMA crossover in unhurried 2020, so that you just realize you’re about to search a reversal if WTI stays below the dynamic beef up zone!
Ether (ETH/USD): Every day
ETH/USD is trading across the $1,400 zone after discovering beef up from the titanic $1,000 designate no longer once, no longer twice, nonetheless THREE times in the final few weeks.
Exclaim is, ETH/USD’s day out to $1,400 also intended breaking above a Triple Bottom “neckline” on the each day chart.
Is the third time the charm for Ether bulls?
Behold out for more bullish candlesticks, which would per chance well perchance push ETH your complete potential as a lot as the $2,000 ranges attain the 100 SMA and old condo of ardour.
On the opposite hand, if merchants pay nearer attention to ETH/USD’s overbought Stochastic signals, then the pair would per chance well perchance moreover retest the $1,200 or even its 2022 lows attain $1,000.
EUR/AUD: Every day
EUR/AUD has been using a bumpy downtrend since the 2nd half of of 2020 when the pair broke below the 1.6500 – 1.6800 primary condo of ardour.
EUR is on the 2nd trading nearer to 1.4800, which is juuust below the 100 SMA and a trend line beef up on the each day chart.
Is EUR about to search one other downswing in the following couple of days?
Point to that EUR/AUD has broken below no much less than three bearish flag patterns since unhurried 2020. If the trend line breakout is legit, then the pair would per chance well perchance tumble to its 1.4400 lows or even salvage contemporary 2022 lows in the following weeks.
Not a fan of trading breakouts? That’s okay, you’ll be ready to also no longer sleep for a retest of the broken beef up or barely of bearish momentum sooner than you scale in your downtrend trades.
Real guarantee that that it’s doubtless you’ll well perchance per chance moreover have trading plans in case we see fakeouts and reversals rather then trend continuation!