EUR/CHF: 1-hour



First up is a nice and simple trend play for ya! EUR/CHF is currently lollygagging at the 1.0735 area, which is right smack at a rising trend line support on the 1-hour time frame. What makes the setup even juicier is that it’s also around a 61.8% Fibonacci retracement area AND an area of interest from way back in January. Will all these lead to a bounce for the pair? Buying at current levels could get you a sweet reward-to-risk ratio especially if you aim for the previous highs. Don’t choke your stops though, as currency crosses like these tend to be more volatile than the majors!

GBP/AUD: 4-hour



Here’s one for breakout traders out there! GBP/AUD is confined in what looks like a symmetrical triangle on the 4-hour chart. The trend is currently on the bears’side with 100 and 200 SMA still unbroken, but the major support around the 1.6000 major psychological area is also attracting a lot of forex bulls. So, which way will the pair go? If you haven’t tried trading triangles like these, then you should know that they tend to break out by as far as the distance of the “base” of the pattern. In this case, we’re looking at around 350 pips. Not bad for a couple of trading sessions worth of vigilance, huh? Whichever direction the pattern breaks, make sure you’ve noted potential scenarios in your trading plans when you trade this one!