Chart Art: Short and Long-Term Setups On ETH/USD and AUD/CAD

National Financial Solution > Forex Trading > Chart Art: Short and Long-Term Setups On ETH/USD and AUD/CAD

Whattup, forex friends!

Whether you like short-term trades or you’re more into swing or long-term opportunities, I got you covered with trend and pullback trades on ETH/USD and AUD/CAD.

Check them out and see if you can get short AND long-term pips!

ETH/USD: 1-hour

ETH/USD 1-hour Forex Chart
ETH/USD 1-hour Forex Chart

Just yesterday, we talked about ETH/USD breaching a 4-hour channel resistance.

If the chart was too long-term for you, then you should check out ETH approaching as ascending channel support near the 1-hour’s 200 SMA.

And if that’s not enough to get you making trading plans, then you should know that there may be a bullish divergence in the making.

Buying at the first signs of a trend line support bounce or bullish momentum would give you a good risk ratio if ETH/USD ends up extending its short-term uptrend.

If you’d rather short ETH, though, then you’ll want to do it when there’s momentum below the channel and the SMAs that we’re watching.

AUD/CAD: Daily

AUD/CAD Daily Forex Chart
AUD/CAD Daily Forex Chart

AUD/CAD bulls have defended the .9250 inflection point pretty well in the last few weeks and now it looks like the Aussie is ready to hit some Fib retracement levels.

The 50% Fib near the .9500 psychological handle is an area to watch as it lines up with a previous support and is closer to the SMA crossover on the daily.

We have yet to see bullish momentum, though, which means that AUD/CAD could still make new 2021 lows without reaching higher pullback zones.

Watch how AUD/CAD reacts to the .9400 Double Bottom “neckline” for clues on the Aussie’s next direction.

An upside breakout can push the Aussie to the Fib levels near the SMA crossover, while new 2021 lows can drag AUD/CAD to the .9125 area of interest.

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