Staying away from the U.S. greenback right this moment? I gotchu!

GBP/JPY appears to be like able to retest a damaged pattern line whereas CAD/CHF is bouncing from a vary help.

Which setup will you extra seemingly commerce?

GBP/JPY 1-hour Foreign exchange Chart by TradingView

Breakout alert! I don’t know in case you observed however GBP/JPY broke beneath a pattern line help that had held strong since mid-February.

The pair has discovered help on the 162.00 psychological deal with, nevertheless, and now it appears to be like prefer it’s able to retest the damaged pattern line.

Are we taking a look at a break-and-retest state of affairs right here?

Take notice that the damaged help now traces up with the 50% Fibonacci retracement of the final downswing AND a significant help within the final two weeks.

A rejection on the 163.00 earlier help zone may result in GBP/JPY beginning a downtrend that would final weeks.

But when GBP/JPY busts by means of the damaged pattern line, then GBP/JPY may lengthen its uptrend and revisit earlier highs like 163.50 or 164.00.

CAD/CHF 4-hour Foreign exchange Chart by TradingView

Subsequent up is a textbook vary play on CAD/CHF’s 4-hour time-frame!

The pair has been buying and selling inside a 90ish-pip vary since late January and it doesn’t seem like the pair is prepared for a brand new course.

Particularly, CAD/CHF appears to be like able to bounce from the .6840 vary help now that Stochastic has simply left its oversold ranges.

However can CAD bulls pull off one other run for the .6925 vary resistance?

Vary playas who’re assured that the vary would maintain this week can goal for the .6880 mid-range or .6925 vary resistance ranges.

Not snug buying and selling a variety or a non-USD pair? You’ll be able to enhance your profitable odds by trying out CAD/CHF’s common volatility and base your volatility stops relying in your buying and selling time-frame. Good luck!