Home Stocks Chart Art: Trend and Range Plays on Ether (ETH/USD) and AUD/NZD

Chart Art: Trend and Range Plays on Ether (ETH/USD) and AUD/NZD

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Who’s in the mood for trend and range plays?

Whether you’re a champ at trading comdoll crosses or you prefer short-term crypto trading, I got yo back with setups on ETH/USD and AUD/NZD.

Which pair would you rather trade?

ETH/USD 1-hour Chart

ETH/USD 1-hour Chart

Ether has been making pips rain since mid-June when it found a bottom around the $880 mark and after the 100 SMA crossed above the 200 SMA.

ETH/USD is now closer to $1,180 level near an ascending channel support that lines up with the 50% Fibonacci retracement of last week’s upswing and the 200 SMA of the 1-hour chart.

Will ETH/USD extend its weeks-long uptrend?

Bulls can start buying at current levels and then scale in at the first signs of sustained bullish pressure.

The $1,300 mark is a good previous high to target, but you can also aim for higher levels if you see enough buying momentum.

If you’re not convinced that ETH/USD can maintain its uptrend, then you can also wait for a clear break below the channel and SMA support levels that we’re watching.

AUD/NZD 4-hour Forex Chart

AUD/NZD 4-hour Forex Chart

Feel like trading ranges instead? You can get some pips from AUD/NZD, which is about 40 pips above a range support on the 4-hour time frame.

Stochastic isn’t helping AUD bulls today while it hangs out near the overbought region, but AUD/NZD buyers can still take advantage of the 1.0960 levels holding for a second time in a week.

A long trade at current levels would yield a good risk ratio especially if AUD/NZD jumps back to its 1.1100 previous highs.

Meanwhile, AUD bears can wait for a possible rejection at the 1.1050 mid-range levels or a clear break below the range support that we’ve marked.

Whichever bias you choose to trade, make sure you’re using your best risk management moves so you can stay in the trading game for another day!

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