We have been bullish on the USD for some time now.
We've seen a break of our ascending channel and key level in the market in the latest bearish 4HR.
Right now we're seeing some rejection of 1.38.
Be careful trading this market today with NFP figures out!
I noticed a general bullish trend so I highlighted that through one trend line.
The spikes out of the first trend line were quite consistent so I made a "shadow" support line.
After this I also noticed a consistent resistance line which had a few consistent drops so I created a "shadow" resistance line.
As the prices are heading towards the support line, I would...
USDJPY H4
Approaching our retest price here on USDJPY, really want to see some exhaustion as I'm not sure how far we could bounce from DXY 90.000 psychological number.
If we see sequential downside waves, we could expect 105.300/400 hold. But I would rather see clear exhaustion, as the relief rally from 90.00 could be quite significant.
Two potential price paths have been identified. Will NZD weakness continue?
Price residing in an interesting spot, back in our range. Price has broken out one to the upside and downside. Long term bearish on this pair. Will we see that strong downside break now?
All the information you need is on the chart.
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Will we see price rally up to our yellow highlighted key level?
BTC/USD 4h chart. Despite the fact that we are all hoping that BTC will go back up we are still dipping a bit. We have made a new lower low but the bullish divergence is still active and the demand zone we just hit again. Would like to see the candle lose 4h in the range otherwise I see us dipping further and the S/R zone is definitely an option to start looking...
BTC chart 4h Bybit
What we see: BTC has had a nice correction and we have found nice support at the 4h demand zone where we have also found support at the EMA200 and we have a bullish divergence. Reason enough to return to the 4h supply zone. If we do not break through this zone I see Bitcoin correcting further towards the S/R zone.
EURAUD H4
Big market corrections seen yesterday which was great, really need to be cautious of resumed volume today, month end flows expected remember...
Great we have seen these kind of corrections across the board though as this sets us up nicely for next week.
Price residing back down at our long term range support level. We've seen CHF bulls sitting at this level providing some resurgence so far today.
Are we going to see a break to the downside this week and price continue to fall?
This pair has been making clear moves which could have been caught using simple trendlines, patterns and area of interest. We are now approaching the support of the descending wedge.
A typical descending wedge usually ends up with the price impulsing up aggressively. We may see that with this pair. See chart below for smaller timeframe.
Be sure to give a thumbs...
GBP/USD - 4HR Chart
Price has tagged 1.41. Last week we saw price finish above 1.40. This key psychological level (1.41) in price is coinciding with the top of our ascending channel on Cable, so will we see a bearish day for the pair?
Keep an eye on this pair. It is currently very fundamental. How much weight do these psychological levels have in these market conditions?
This week we are looking at CRISIL Limited. The chart is quite self explanatory and the support line is drawn on the chart. The stock is in good buying zone currently.
We saw a JPY resurgence through the trading day yesterday. This has seen price retest the top of our range after the strong breakout.
Where is price heading next on this pair? Are we due EUR strength across the board?
What we can see here?
Price is currently rangebound, bouncing between key resistance and support levels. We have seen wick rejections at our support level. Price has taken longer than usual to turn bullish, will we see bulls take hold once again, or will bears take hold and break out this range to the downside?
Lets see what happens. Want to discuss this pair in...
We've seen a very weak dollar through Asian and into London. We may be seeing a test of this 4HR key level we spoke so much about prior to the break. Will we find support at this level or will this bearish momentum be too strong for the buyers sitting at this level?
We first require a few confirmations before entering this trade. Await an impulse down and wait for correction. Ideally correction should retest the area marked.
