Gold H4 On the basis the dollar breaks south of 102.500/102. We could expect a spike in gold demand/price due to the drop in USD. As always, that element and confirmation to confirm bullish bias would be seen through a break and close around 1872 (weekly key level), and subsequent retest of 1858, this is where we could consider loading up on Gold longs. Just...
GBPJPY H1 Nice break so far on the hourly and M30 charts, haven't quite confirmed the H4 break and close, but we still have time left on the clock. Longs from as close to this 160.000 handle as possible, 160.000 is the area of play for shorts/longs depending on whether we are trading north of south of this zone.
GBPUSD H4 Dollar seems to be pulling back and giving it's gains away as we have seen DXY fall through that 103.500 to 103.000 support zone. On this basis, we are seeing cable break above 1.25, another key psychological level. A retest of this 1.25 price would a possible entry price.
DXY H4 We have broken the minor support retest price we mentioned earlier, 103.500 to 103.000 is no longer, and we are sat on the brink of a deeper support break with a potential 250 point void. Not a lot holding us up if we breach this 102.500/102.000 support.
GBPJPY H4 I wouldn't mind a little more confirmation from this pair, we are bearish on all timeframes lower than the H4. Ideally want to see some price hold up around this 160.000 confluence zone. Fibs can push a little deeper south of 160 which is a concern, but no harm in waiting this one out a little while to see some stabilisation first.
USDWTI H4 Saw a nice hold up on the D1 yesterday on a clear area of daily resistance. Interested to see if this is the point of reversal, we have had a nice trading range for the best part of two months here. Stops to cover wicks dated back to March 21. 6.5R trade to take us down to $95 as mentioned yesterday.
DXY D1 Whilst we have a bullish sequence here on the D1, the H4 looks to be showing a bearish breakout. As we always say, higher TF takes precedence. Not only this, we have fundamentals and risk sentiment backing USD bid. I'd like to see DXY get off the ground a little more before jumping into these USD*** longs or ***USD shorts.
ETHGBP D1 Back on the daily here, this is why I feel we have more room downside, still awaiting test of major supports across a handful of other crypto instruments, BTCUSD has already broken downside and retest. £1300 is indicated as major support. From here we could look for consolidation/corrections.
BTCUSD H4 Thinking we may see another downside wave in the Crypto space this week. Seeing some higher highs and higher lows, but still trading south of $30k as indicated. Until we break back above $30k and use this zone as support, we can assume bear bias. No real target in sight though.
UDSWTI H4 Initial area of resistance had broken, and we have made slight adjustments to the resistance price/zone here. Very clear trading zone, something I'm taking short on from the details indicated. Strong 8.5R from resistance down to support. And 3.75R to interim resistance.
GBPAUD H4 Break of structure seen now, support held at 1.75600 has now been broken convincingly, just looking for price to correct and retest the underside and hold as resistance, this can be our short zone.
AUDJPY D1 Seen our 94.00 confluence zone wicked now, bit of a response on the D1 candle already, typically a pair that moves better during the eastern session. If we see a bearish D1, this could be something we look to take, hands are a little full at the moment with existing trades.
NZDJPY H4 Popped higher here yesterday, as we saw also on the AUDJPY chart above, sell zone for AUDJPY, but not really for NZDJPY. We have indicated expectations and requirements if you like, which we feel would grant us reasonable entry meeting our RR requirements.
AUDUSD D1 We haven't quite pinned into our 0.70 confluence zone yet, but dollar seems to be topping out ready for corrections, hopefully we are able to grab an entry on this pair on one more attempt to test that confluence zone of 0.70. Otherwise I feel lots of these ***USD pair may see some short term upside movements.
NZDJPY H4 Another example of a ***YEN pair that we have been following, we haven't actively taken this trade, but something for close comparison, to determine YEN strength to give additional confluence to GBPJPY shorts. Hoping to see a break south of this H4 support price to see some YEN strength resumed.
Gold H4 Selling off nicely here, a little consolidation, but seemingly breaking that short as we speak. As mentioned, the next target we have for this pair would be $1827. We have been speaking about commodities in our members chat, and how we notice the last few weeks risk headlines hasn't really correlation with commodities trading directions.
USDWTI H4 Hoping to see the next bearish wave here on Crude, we pulled back during yesterday's trading sessions, but still very much in a clear LL/LH sequence. Hoping we can breach $100 on this next wave, subsequent retest as resistance, then we can target major support price of $95/b.
DXY H4 Bank holidays yesterday, typically lighter conditions than usual, but not sure that was the case, we saw some decent moves. Normal volume expected today, dollar seems to be topping out as we challenge an attempt to set a new high. Lets see how this 10am H4 closes. Could be time for a dollar correction.