Swing traders gather ’round!
Whether you like trading crypto or you prefer your pips in fiat, I got your back with Uniswap’s (UNI/USD) uptrend and EUR/AUD’s range support plays.
Get ’em while they’re hot!
Uniswap (UNI/USD) is consolidating at 8.0000, which isn’t surprising since the psychological level served as resistance in the second half of July and support in the first half of August.
Not only that, but UNI/USD’s 8.0000 also lines up with the 4-hour chart’s 200 SMA and an ascending channel support that hasn’t been broken since mid-June.
Can UNI/USD extend its uptrend?
Look out for momentum above 8.0000, which opens the crypto to a move back to its 9.5500 August highs if not new Q3 highs.
If you see UNI/USD break its channel and 200 SMA support, though, then you gotta be ready to trade a reversal. The 6.6600 area is a good initial target for the bears though UNI could drop to 5.8500 if there’s enough momentum.
Here’s one for the range playas out there!
EUR/AUD popped up a VERY bullish candlestick after bouncing from the 1.4400 region for a second time since April.
Let’s see if EUR bulls can maintain their momentum.
The 1.4850 mid-range level near the 100 SMA is a shiny target for bulls who believe that the bounce has legs.
Meanwhile, those who are really bullish on EUR against AUD can target the 1.5300 range resistance zone just above the 200 SMA on the daily.
Not a fan of EUR? You can wait for the first signs of weakening buying pressure or put short orders near the mid-range zone if you’re confident that EUR/AUD will drop back to the 1.4400 support in the next couple of days/weeks.