Welcome to the second half of August trading!
Ready to get place your next swing trades?
Today we’re looking at EUR/USD, ATOM/USD, and WMT for opportunities. Check them out!
WMT: Daily
If Friday’s consumer sentiment report got you looking at retail bets, then you should know that Walmart Inc. is poppin’ up interesting dojis around a key resistance.
I’m talking about the $150.00 zone, yo! See, WMT bulls have been trying (and failing) to breach the mark since September 2020.
Will enough bears act on the overbought Stochastic signal and the Gravestone Doji-like candle from last week?
Watch out for a trip back to previous areas of interest like the $146.00 or $142.00 previous resistance areas.
If you see an upside breakout, though, then you gotta (a) at least aim for the $153.50 November highs and (b) tell us about the breakout ASAP.
ATOM/USD: Daily
I don’t know if you’ve noticed, but ATOM/USD has been pulling itself from the $9.00 lows since late July.
Cosmos is now a hair’s breadth away from the $17.00 area that had served as support from February to May and has acted as resistance back in June.
With Stochastic serving us an overbought signal, you can bet that at least some bears are about to sink their paws on the opportunity.
Downside momentum after a bounce from $17.00 could lead to a drop back to the $9.00 – $10.00 previous support zone.
An upside breakout, on the other hand, could mean that the current upswing still has legs that could push ATOM/USD to the $22.00 or $26.00 highs.
EUR/USD: Daily
Where my fiat-trading brothas at?
Unless you were too busy posting on #FreeBritney forums, you should know that EUR/USD just bounced from the 1.1700 key support level on the daily.
That’s right, the months-long range is looking like it’s about to hold again! Euro bulls can take advantage of the bounce by targeting areas of interest like 1.1900 or even setting up a scale-in strategy all the way to the 1.2250 range resistance.
If you think that the euro will soon see losses against the dollar, though, then you can also wait for a trip back and then a breakout below 1.1700 to see if it would lead to a retest of the 1.1600 previous support.
