EURUSD reached a firm daily resistance. It is possible that the US data could trigger some USD strength, which will distance EURUSD from the resistance level. The highlighted levels on the chart may be used for stops and take profit. The technical setup is for experienced traders. It is worth noting that brexit and US elections will add to the market volatility...
EURUSD posted some gains due in recent days due to the Fed Powell's speech at Jackson Hole (online speech). Powell affirmed the Fed will opt for average inflation while assuring rates will remain low. The new inflation framework weakened USD against a basket of currencies. The impact of the new framework may last for some time but due to the upcoming US elections...
$EURGBP is testing again the 0.9000 triangle breakout level after the falling trend line another rejection and bear flag breakout. Usually this kind of prolonged consolidation lead to a strong breakot. Medium to long-term target in the case of this breakout could be at 0.8500.
GBPUSD reached a minor support on the 15min chart (marked in green), The lower support and resistance are marked in bue. Should GBPUSD post a 15min close above the green line we may see some corrective gains towards 1.3220. The analysis is intentionally kept simple. Most of the recent volatility across global markets is due central banks' monetary policies and...
EURUSD has been largely affected by the rising cases of covid-19 in the US as well as central banks' monetary policies. What has kept USD Weak is the US stimulus that is stuck due to disagreements between the Republicans and Democrats. Based on the 4hr Chart it appears we may see some USD strength as the upper resistance is holding. The initial target is 1.1830....
There is a potential long entry (scalp) in USDJPY via the 15min Chart (lines highlighted). The break above the neckline (reversed H&S) may suggest some gains are due for USDJPY. It may also support our prior entry in EURUSD that was recently published. The potential target is 107.35, the support at 107.25.
FX:EURUSD EURUSD reached a fairly firm resistance on the 30min chart as seen in the chart. The resistance has been tested on 4 different occasions and prevented EURUSD from climbing higher. The potential target is 1.1415.
EURUSD H1 - Decluttered EURUSD a fair bit, if DXY double top holds, we should see EURUSD bounce. Pretty much mirror images of each other if you remember us mentioning this on one of the technical rundown videos.
Formation Of Zigzag Correction Happen Which Push It Upside.
Formation of Flat Corrections Which Push It Downside.
EURGBP has consolidated towards the bottom of the recent move lower. The pair approaches overbought conditions, yet hasn't attempted to break higher. We are therefore expecting a break lower after a bounce from the top of the wedge.
AUDCAD has trebled its longing for a bottom and has finally made it into bearish territory. However, we await closure below small triangular zone shown for confrimation of further downward bias toward 0.912-ish area. See video analyses for details
AUDCAD for the better part entered into a downward stretch last week largely from disappointment from RBA rate cut signals. However this pair traded with heavy volume into support zone last week and it is our view that consolidation for buy orders should resume. However, this needs to be confirmed above current support zone shown and target will be as per blue...
FX:AUDCHF neutral at the moment. Our technical analyses measurement of market sentiment suggests a wait and see approach. Daily close above current downward sloping trend line could be met by brief retracement before onward bullish continuation. Further downward movement will be confirmed only after break of current support confluence zone. See video for further...
THE END OF THE BEARISH RUN ENTRY : MARKET PRRICE SL : AS PER TRADER RISK MANAGEMENT TARGET : 1.50830
The US Dollar (USD) weakened on Friday on reports a short-term funding bill will re-open the US government for several weeks (at least). Based on the 15min Chart USDJPY may have reached its support (as highlighted on the char), paving the way for corrective gains. The potential target as well as the possible location of the protective stop are marked on the chart.
Someone wanted to know how this would look on the 1 HR chart. The original markup was completed on the daily chart, which can often be difficult to translate to the hourly chart. As you can see GBPNZD is due for a break out to the upper support level. You will notice higher lows on the hourly chart. I feel this will be a quick 50+ PIP move over the new few...