- weekly/daily timeframe closed bearish at resistance of $1399.00.
- we could see price retrace back to the key support zone at $1360.00. However, this may be unlikely as the USD is currently sitting at a key zone.
- Fed Chairman Powell testifies on the current economic plans to the Economic Committee in Washington. With the chairman looking to cut rates soon, we...
- fallen from the key zone - resistance level of 0.6700 and now approaching the minor support of 0.6580. RBNZ Governor Orr is set to speak this week and could continue the disfavoring - increasing interest rates, on the New Zealand economy!
- USD Index rejected and closed below the trendline resistance - price remaining in a downtrend zone on the daily timeframe.
- USD Index - monthly remains bearish - the bearish outlook should continue if we see price remain below the $97.70 high zone.
- Oil has been traded lower-High on Friday as demand concerns continued to outweigh worries over escalating tensions between the United States and Iran.
- The catalysts driving demand concerns are rising expectations of a global economic slowdown or even a recession. The US/Iranian tensions are bullish for the market, but they are starting to die off just a...
- Euro has broken down significantly, showing signs of extreme *exhaustion. However, we are getting close to a support level 1.12, and therefore we could see a bit of a bounce back!
- Friday reaction is due jobs figure, as people suddenly become concerned that the Federal Reserve may not cut interest rates and it’s likely that the market may come to its senses on...
CADJPY - formed a new high as continue to strength.
- weakness indicators show the Canadian Dollar is strong and the Japanese Yen is weak.
- we are looking for the price to re-test the structure highs before continuing the uptrend.
- use BUY LIMIT at 82.10 - we could reach potential target:
1st target: 83.340
2nd target: 84.000
- CADCHF was highlighted on the strength and weakness indicators for a long opportunity.
- Daily timeframe shows price is forming higher highs. We expect price to re-test the highs before moving higher.
- we could reach following targets:
1st target: 0.75500
2nd target: 0.76300
- monthly chart suggests price could be forming double bottom pattern at the lows key.
- monthly highs at 0.6920 will be target for long term.
- long opportunities will be on lower timeframes!