Who’s ready for another week of trading chart setups?
I hope you are because PayPal and GBP/USD are hitting support levels while VeChain looks set for a breakout.
Check them out!
PYPL: Daily
PayPal is about to hit the $220 mark after breaking (and retesting) a trend line support on the daily.
With Stochastic reaching oversold status, you can bet some moolah that at least some bulls are already watching the setup.
Will a long PYPL trade pay off?
Watch out for a bounce from the Q1 2021 support in case the stock jumps back up to the $260 levels near the mid-range and simple moving average area.
VET/USDT: Daily
VeChain bulls have been partying in the crypto streets since October when they gave legs to a fresh uptrend.
VET/USDT bears will now be under the spotlight as the pair revisits the 1.1600 mark that had served as resistance at least twice since June.
Will VET/USDT remain inside its ascending triangle pattern? Or will we finally see a breakout?
Stochastic is on the bears’ side with an overbought and low-key divergence on the daily time frame but y’all gotta watch out in case VET traders are in the mood for a breakout!
GBP/USD: Daily
In case you missed it, GBP/USD finished a months-long uptrend back in late July and has been trading inside a descending channel on the daily time frame. Heck, there’s even a bearish moving average crossover on the chart!
What makes the setup interesting today is that Cable has popped up an interesting doji just as the pair hit the bottom of the candlestick pattern.
Will GBP/USD see a bounce this week? Bullish momentum above 1.3400 could push the pound back to the 1.3600 area of interest.
If GBP/USD extends its downswing, though, then the pair could head down to the areas of interest closer to 1.3200 or 1.3000.
