GBPJPY H4 Lets see where we move towards today following BOE. Another big economic event which is going to cause a stir and shake up to the markets, especially GBP markets of course... Break and retest seen and GBP bulls as mentioned on our IG post. Lets see what comes out of BOE and whether hikes surface and GBP rallies.
USDWTI H4 Following yesterdays events, we have now seen the new/fresh low and subsequent pullback, we were eyeing up this 71.50/b for potential shorts. Certainly starting to exhaust and scallop over here. 6 minutes until H4 close, we could be targeting a fresh low yet again with targets of circa 65/b.
DXY D1 We may finally see this pullback towards 94.500 after the headlines and comments from Powell and the FED yesterday, lots of volatility surrounding the event, but as per the technical rundown... Solid bearish close with a majority wick fill. Fresh daily, and we are seeing resumed weakness, really need to break and close around 95.500 to break interim...
USDCAD D1 Looking at this big daily resistance price now, changed timeframe and scaled up one. Looking for some daily rejections now and daily confirmation before taking any shorts, lets see how today closes, see if we see what we are looking for. Not really interested jumping in impulsively after seeing AUDCAD break resistance yesterday from the D1 analysis we posted.
Gold H4 Yet again struggling on gold to break above this 1787 price, key sticking resistance region which ties in with our monthly key level. Some very evident S/R which doesn't want to break, really need to be patient and wait for the break and retest, as this is effectively our protection/confirmation. Additionally, the more we reject, the more cautious we...
USDWTI H4 Another pair which typically offers us a lot of trading opportunity and volume, similar to gold... However, sitting relatively flat and in consolidation, not really the markets we want to be trading. However, we can still mark our zones and sit prepared. 72.80 region is possible shorts as we have now exhausted on previous supply and resistance. But...
GBPJPY H4 151.000 is a strong whole number for this trading pair, it's a key trading zone which has held on the last 2 counts as resistance. 100 pips from 151 short to 150, and another 100 pips from 150 down to 149. Solid trading ranges, with measurable targets and risk projections.
CADJPY H4 Next entry point marked on, as described in the technical rundown, and break and subsequent retest of this interim S/R level at 89.00 would be our next point of entry. Sold off a solid 110 pips last week. 89.00 down to 88.00 firstly, with potential to extend further beyond, targeting 86.300.
CADJPY H4 Snapshot of next anticipated move for this trading pair, seeing some really nice corrective selling pressure from our marked zone, hopefully we correct down to at least 800 price with the same momentum.
USDWTI H4 Remember this setup will correlate with the above somewhat. We have already started to see rejections from CADJPY resistance price, hopefully this freefalls and fills that void we marked. We are hoping WTI breaks support price of 71.50 and sees a close around 70.50 or so, subsequent retest of 71.50 to offer us that short opportunity we are looking for.
GBPJPY H4 Possible second resistance test at that 151 whole number may set us up for some decent short opportunity. Lower lows are still flowing, nice correction 'give back' from the YEN yesterday. Eyes for moves to catalyse this setup further. This would then correlate and compliment the above CADJPY setup further.
CADJPY H4 Possible short incoming as we approach this 90.00 handle, we have already extended 150 pips from our pivot point without a correction (88 handle). Even if we see a relief rally from 90.00 this could still offer us a solid 2R or even 3R. We have been trending some time and as we approach year end, I wonder if these will continue. I'm fairly doubtful...
BTCUSD H4 Small break and retest seen yesterday which we followed, before then popping higher short term. Wasn't sustained and we ended up falling short again. The lower high and lower low sequence still remains and I feel we are still in a short structure, not a huge amount of Crypto volume for the start of the week though.
USDWTI H1 Another possible sell-off wave incoming, a break downside is certainly required, market corrections from the latest wave is healthy and ties in nicely with our trading zones. Lets see what unfolds here with WTI. Measured over 3R down to previous low.
USDWTI H4 Still sitting within structure here on western texas, lots and lots of consolidation seen during recent trade, initial rejection yesterday to drop circa 2R. However, this $78/b seems to be a little stubborn, a break of this zone should see us drop further.
USDWTI H4 We didn't quite pullback to our $80/B price, but looks like we may be seeing reversals now at current S/R which is marginally below $80/b. Certainly a measurable trade down to $75.50 initially, offering circa 5R. Hopefully we can see a similar move to what we have seen on cable. A nice heavy drop to make positions risk free and bank profit early doors.
GBPUSD H4 Multiple confluences stacked at this 1.35 handle, first of all we have that psychological 1.35 number, key area of H4 support/resistance and also a healthy fib pullback from the latest swing high down to swing low. A solid measurable 5R down to 1.33, a breach of 1.34 has already been seen. Alerts set and eyes peeled.
USDCAD H4 Just like we see on DXY, looking for that healthy pullback after the bullish moves we have seen last week. 1.24600 ish would be an interesting buy region for us as it would tie in nicely wi9th our S/R, fib support corrections.