Really big correction seen yesterday once again, no surprise, there was a whole market shift towards the latter part of London close, it was almost like month end flows were seen yesterday.
Support/resistance zone here seems like it wants to hold so far, little bit of time left on this H4. But relatively clean play thus far.
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.
Bullish outlook here on CADJPY, however USDJPY looking for a bearish rejection from the resistance retest price we are approaching, analysis to follow.
Nice bounce initially here anyway, same as always, scouting out that breakout high at around 83.866 ish before looking for new highs. A double bottom on 83.150 could offer another entry.
We covered this pair on the watchlist webinar yesterday evening with our coaching programme members. Nice support zone identified, marginally lower lows set, but remembers market open causes some interesting price moves which we need to take with a pinch of salt, so to speak.
EURJPY H4 - Euro has seen some quite significant weakness so far this week, pulling downside back within our range box consolidation areas.
It would be good to see a two stage reversal on support. Buying from support would compliment out first rule. 2 stage reversal would be a perfect confirmation after such a sequential bearish trend too.
GBPUSD H4 - USD strength seen off the back of the weekend headlines and USD upside gap, various reasons supporting this, such as the US vaccination manufacturing, Trumps comments last week regarding stand-down and January 20th transition, stim packages etc...
Eyes peeled on DXY going forward this week, looking to suss our whether these moves are short or medium...
USDJPY H4 - Fresh lows being seen now on the lower timeframes, just need to sustain this for the daily close. Yesterday was a bit of a strange day to see initial strength (short lived on USD), but the bearish theme continues.
EURAUD D1 - Support to resistance range is back in play, support has been adjusted slightly after last weeks downside attempt, broke back above 1.61, rejected that monthly key level at 1.62, retesting 1.61 support zone again, could be a good area to catch bid if this support holds.
GBPJPY H4 - Absolutely slammed 200-300 pips downside on most GBP pairs, following each support zone, one zone at a time, not trying to catch the bottom of the move. Personally sitting on the sideline until new year. But same principle and trading system applies. Follow the zones until you can react.
GBPJPY H4 - Amended the resistance price here and pushed it up a little to accommodate for the recent attempts upside (which we are now classing as resistance). A break above 140.600 and retest of 400 could set us up for a break and retest for upside continuations.
NZDUSD H4 - Hugely bullish bias at the moment as these eastern pairs (A/N) keep inching higher and taking advantage of the soft USD at the moment, no doubt a correction will be due for the USD and we could see a retest of this broken zone.
GBPUSD H4 - As mentioned, looking for a bullish breakout soon, not entirely sure when because I'm not in charge of the Brexit negotiations unfortunately, but preparing for something like this, once we see the upside break and retest of support at 1.34, that's when I'd like to get involved. Another S/R range would be tedious, but all depends on how negotiations unfold!
AUDUSD H4 - Here is Aussie vs the dollar, again very similar structure to the above, 0.733 was the resistance zone in this occassion whereas 1.33 was cable resistance, regardless we are close to seeing a break and close on the H4. From this, we could look for entries around 0.7335 to jump in long after a correction, just cautious of the rally leg going in to break...
EURUSD H4 - Currently pushing a key resistance zone, we have marked and annotated the monthly key level, resistance zone and 1.19 whole number, usually we would look to short this, but DXY is looking weak and we may be ready for an upside break, we have an ascending trend too, with sellers losing strength each time we push 1.189, breakout may be imminent. A break...
NZDCAD D1 - Daily close yesterday saw the upside breakout, a retest of the newly formed support zone could warrant buying opportunity off the back of todays close. Already starting to see a pullback, we have breakout highs, resistance to support and 0.90 whole number too, so a handful of confluences. RR is also sitting at a huge 1:6.
GBPCHF H4 - Another CHF quote pair here, and again a very similar structure to USDCHF, sideways range bound setup. The easiest trades to quantify and identify. Don't fix it unless it's broken right? I was saying this last week, just need to be cautious of Brexit, EU/UK related headlines this week as always.
USDCHF H4 - Major support and resistance range marked on showing a 180 pip potential, please listen to the above voice note, we don't want to be caught on the wrong side of big fundamental moves! Try and work from higher timeframes if you're comfortable as this would allow breathing space for intraday highs and lows, effectively meaning we can ride some of the...