Welcome to mid-week trading, errbody!
Whether you’re into short-term trends or you’re more comfortable trading long-term support and resistance zones, I got yo back with opportunities on ETH/USD and CAD/CHF’s charts.
Get ’em while they’re hot!
Missed Ether’s (ETH/USD) July bounce? FOMO no more!
ETH/USD is trading near $1,700, which lines up with the 200 SMA and ascending channel support on the 1-hour time frame.
Think Ether can extend its uptrend?
Watch out for bullish momentum above $1,700, which may push the crypto back up to its $1,800 August highs or even new monthly highs in the next trading sessions.
If you’re bullish on USD than ETH, then you can also bet on a downside breakout. Just make sure ETH/USD is trading (and staying!) below the 1-hour channel before you pull the trigger on any short order!
CAD/CHF is chillin’ like ice cream fillin’ between .7400 and .7600 since getting rejected (twice!) from the .7800 psychological handle.
Will .7400 hold as support for another day?
Technical indicators favor the bulls with Stochastic poppin’ an oversold signal and the 200 SMA supporting CAD/CHF’s prices since July.
A clear bounce from .7400 might boost CAD/CHF back to .7500 near the 100 SMA or July’s highs near .7600.
Meanwhile, a breakout below the .7400 MaPs and 200 SMA support zone could shift CAD/CHF’s 200-pip range from .7400 – .7600 to .7200 – .7400.