Bullish flag pattern in the 1 hour chart of USD/CHF

A bullish flag pattern has formed in the 1 hour chart of USD/CHF. It seems the pair will soon break past the flag and will resume its uptrend. If you think it will retest the resistance at .9280, you may place a long order above the flag. On the other hand, if you are looking for long-term trade opportunities, you should wait for confirmation of that retest. You should keep an eye on the stochastic too. Only place your order when stochastic is showing overbought signal.

NZD/USD has made a nice range setup which has been continuing for months. In the 4 hour chart, the pair is currently at the bottom of the range. The bottom coincides with a major psychological level, .7700 too. The chart has also formed a bullish divergence, while stochastic is making higher lows. All of these suggest a long trade for the pair. However, do your own analysis and act only if your trading system tells you to.

You will find another range in the 4 hour chart of GBP/JPY too. It could be a potential trade setup for the yen lovers. Though the previous swing high went past the top of range, it came back quickly. Over the weekend, the pair has earned a gap. But, there is strong possibility that it will resume the downward trend once the gap is fulfilled. If it starts, the pair will likely touch the 148.00 mark. Stochastic is already showing overbought signal, which means pound bears can attack anytime now.

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