{"id":10116,"date":"2022-10-17T07:17:06","date_gmt":"2022-10-17T07:17:06","guid":{"rendered":"https:\/\/mdr.foobrdigital.com\/?p=10116"},"modified":"2022-10-17T07:17:06","modified_gmt":"2022-10-17T07:17:06","slug":"chart-art-short-term-trend-range-plays-on-gbp-usd-cad-jpy","status":"publish","type":"post","link":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/2022\/10\/17\/chart-art-short-term-trend-range-plays-on-gbp-usd-cad-jpy\/","title":{"rendered":"Chart Art: Short-Term Trend &#038; Range Plays on GBP\/USD &#038; CAD\/JPY"},"content":{"rendered":"\n<p>Not planning on holding\u00a0swing\u00a0or\u00a0long-term trades?<\/p>\n\n\n\n<p>Same. That\u2019s why I\u2019m looking at GBP\/USD\u2019s short-term\u00a0downtrend\u00a0and CAD\/JPY\u2019s lowkey range setup!<\/p>\n\n\n\n<p>Which trade will you more likely take?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">GBP\/USD: 1-hour<\/h2>\n\n\n\n<p><a href=\"https:\/\/bpcdn.co\/images\/2022\/10\/12231905\/GBPUSD.png\"><\/a><\/p>\n\n\n\n<p id=\"caption-attachment-232177\">GBP\/USD 1-hour Forex Chart<\/p>\n\n\n\n<p>First up is a nice and simple trend trade on Cable\u2019s 1-hour chart.As you can see, GBP\/USD has been making lower highs and lower lows since the first week of October.<\/p>\n\n\n\n<p>More importantly, price is now testing the\u00a0trend line resistance\u00a0of those lower highs while\u00a0Stochastic\u00a0just left overbought territory.<\/p>\n\n\n\n<p>Are we looking at a downtrend extension this week?<\/p>\n\n\n\n<p>Shorting at current levels would yield a good\u00a0risk ratio\u00a0especially if GBP\/USD\u2019s descending channel holds and the pair makes new weekly lows.<\/p>\n\n\n\n<p>If you\u2019d rather buy GBP against USD, then you can also wait for a clear break above the channel resistance and aim for short-term areas of interest like 1.1225, 1.1370, or 1.1470.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">CAD\/JPY: 1-hour<\/h2>\n\n\n\n<p><a href=\"https:\/\/bpcdn.co\/images\/2022\/10\/12231921\/CADJPY.png\"><\/a><\/p>\n\n\n\n<p id=\"caption-attachment-232178\">CAD\/JPY 1-hour Forex Chart<\/p>\n\n\n\n<p>Who\u2019s up for\u00a0range\u00a0trading? If you are, then I should tell you that CAD\/JPY is hanging out near the top of a range that\u2019s been around all month.<\/p>\n\n\n\n<p>You can short at current levels and place your stops just above October\u2019s highs if you\u2019re betting on CAD\/JPY revisiting its 105.25 or even its 104.70 lows.<\/p>\n\n\n\n<p>Think CAD\/JPY is due for an upside\u00a0breakout?<\/p>\n\n\n\n<p>A clear break above the 106.50 range resistance could push the pair to its 107.50 or 108.00 previous inflection points.<\/p>\n\n\n\n<p>Watch this one closely, yo!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Not planning on holding\u00a0swing\u00a0or\u00a0long-term trades? Same. That\u2019s why I\u2019m looking at GBP\/USD\u2019s short-term\u00a0downtrend\u00a0and CAD\/JPY\u2019s lowkey range setup! Which trade will you more likely take? GBP\/USD: 1-hour GBP\/USD 1-hour Forex Chart First up is a nice and simple trend trade on Cable\u2019s 1-hour chart.As you can see, GBP\/USD has been making lower highs and lower lows [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[386],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/10116"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=10116"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/10116\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=10116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=10116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=10116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}