In EURUSD we have seen price push down through our previous days low as annotated in the chart with a clean break and retest also identified. Our London open has pushed creating a swing high for the pair to potentially short further through the New-York session.
As we seem to have recovered from the COVID-19 pandemic, the price of this pair has been continuously rising since March; coincidently when British lockdown was introduced. It now happens to be approaching our 2020 yearly open with the anticipation to break and create a new annual swing high as the DXY shows serious weakness.
Since August 1st GBPUSD along with many other pairs have been ranging between these two zones or ones similar. Today we are approaching the high of the range in our London session with anticipation of the New-York session to either break or reject the high. At 1:00 pm New-York open I am hoping to have some indication of what will happen to help us decide our...
EURCAD looks to have come back around to the annual high with a decisive rejection in a forming what may be a "double top" too short back down to 1.51000/1.50500. However, If these levels are not met we may see a break and retest of the "double top" and price continue long to a previous annual high of 1.61500.
The DXY looks to have filled the gap that had formed. Now that it has done so I am anticipating it to continue with its overall direction to levels 92.50/92.70. Meaning ...USD pairs will be doing the opposite.
We are seeing very similar actions in EURUSD as to what we are seeing in the DXY which is expected. With a lot of interaction around the weekly/monthly level 1.18000. Which we are currently trading above.
The DXY is looking bearish in this sideways structure. I am Looking for it to short down to "support and for ...USD pairs to be moving long. I am going to take a look over EU and GU now see if they agree with this analysis.
After what looks like a break of the one hour structure we have seen a retracement to the 61.8 fib. With previous highs sitting nicely with the -61.8 fib extension level.
We are seeing a clean break through the descending trend line with price coming back to retest the 61.8 fibonacci level. Predicted target levels are -27, -61.8 and -100 fibonacci extension levels fitting up with previous support/resistance levels.
After what seems like a never-ending bearish market, XRP along with many other cryptos appears to be showing a shift in direction. Now finding "support" at the monthly/weekly close of $0.14 it shows signs of what could be a break of the trend heading towards previous highs.