Looking for hack setups to explore this week?
Intel is about to test range resistance, GALA is in a narrowing triangle pattern, and EUR/AUD looks ready for a reversal.
Check them out!
EUR/AUD 4-hour trading chart by TradingView
The events of the past week took the EUR/AUD to the 1.6200 – 1.6250 area, which corresponds to its high earlier this month.
What makes the pair interesting today is that it formed a potential head and shoulders pattern near the previous resistance area.
Are we looking at a reflection in Genesis?
Consistent trading opens below 1.6200 EUR/AUD reaches for a journey back to the 1.6000 region of interest.
But if the head and shoulders ‘neckline’ ends up as support, EUR/AUD could make new monthly highs before the weekend.
GALA/USDT Daily Chart Powered by TradingView
Hola if you are looking for gala!
GALA/USDT has been trading inside a descending triangle pattern after a strong bullish swing at the beginning of the year.
This week, the pair is also trading above the 100 SMA that just made a bullish cross against the 200 SMA. coincidence? I do not think so!
Look for a break above the triangle resistance, which could push GALA/USDT to triangle tops near 0.5900 or 0.7200 former resistance.
Not convinced that GALA/USDT will break out to the upside?
You can also take advantage of trendline holding as resistance and target .2900 support every time the coin is rejected from its resistance areas.
Intel Corporation (INTC): Daily
Intel Corporation (INTC) Daily Chart Written by TradingView
Intel has been trading within range since October last year!
In fact, the stock turned higher after finding support from the $28.00 levels where the middle range and the 100 SMA support levels.
The bulls could pick up a few pips to target the $30.50 area near the resistance band and 200 SMA on the daily chart.
But if you prefer to take advantage of the unbroken range pattern, you can also set up short orders around potential resistance and aim for the $25.50 range support area.