On the lookout for extra greenback trades in the present day? I gotchu!

USD/CHF is testing a serious space of curiosity whereas spot silver (XAG/USD) appears to be like set for a breakout.

What do you consider these charts?

USD/CHF 1-hour Foreign exchange Chart by TradingView

I don’t know for those who’ve seen however USD/CHF has been buying and selling inside a 145-pip vary since late February.

Vary playas have one other likelihood to play the sample in the present day as USD/CHF hangs out on the .9290 vary help. In spite of everything, the extent hasn’t been damaged all month AND Stochastic is sending “oversold” vibes on the 1-hour timeframe.

Shopping for at present ranges would yield threat ratio particularly for those who goal the mid-range zone close to .9360 or the vary resistance space close to .9425.

Really feel like promoting USD in opposition to CHF as a substitute? You would possibly need to await a transparent breakout under the consolidation earlier than you purpose for earlier areas of curiosity like .9250 or .9225.

Silver (XAG/USD) 1-Hour Chart by TradingView

Spot silver (XAG/USD) is consolidating in a 30-pip vary just under $20.00!

However what caught my consideration concerning the pair is that it has damaged under consolidations at the least THREE occasions since early February.

With the 100 and 200 SMAs nonetheless pointed decrease, are we taking a look at a pause earlier than the continuation of a downtrend?

Shorting on the top quality or on the first indicators of draw back breakout may nonetheless get you in on XAG/USD’s downtrend particularly if the commodity revisits its lows close to $18.00.

I wouldn’t low cost a better pullback although. XAG/USD might discover sufficient patrons to hit the 100 and 200 SMAs earlier than we see sustained bearish stress.

Whichever bias you find yourself buying and selling, be certain to bust out your finest threat administration strikes so you possibly can commerce for one more day!