Historical resistance is currently at 0.6920, which is perfect as a breakout is not expected unless it touches 0.6930. It has hit my daily trendline, which will now be the third touch. USD is weak and should recover, as DXY is currently within my Psychological and manual support. Recoveries are not guaranteed, however on the hour timeframe and 15 min timeframe you...
Potential long trade from this zone, as it has hit my 4 hour trendline. Bounced nicely off the psychological support. Currency strength shows CHF strong and USD weak, however session confirmation also shows a bullish NY session. This could look to recover over the next couple of days, not guaranteed. No more news till tommorow
On my manual resistance, as it broke out of the psychological zone over the Asian market. The Asian session has been bullish over the evening and this could potentially be the first leg on the 15 min time frame, as well as 4 hr time frame for a M formation. Both AUD and USD are strong on the currency strength and Red News will come this afternoon, for AUD this...
USDJPY respected the 4 hour trendline for the third time. Though DXY is looking weak, USD may gain strength during the day. No red news and session confirmation suggests a long, as the asian market has been bearish
EURUSD could see another retest of the trend line for a potential short trade. However, this is working well across EUR cross pairs, so can be used as confirmation against another major to trade a cross pair. If trend line is broken, expect to see a rise to resistance.
USDCHF Long, been entered in this trade from 1.0002, respecting the support for a while and bounces of the trend line nicely. Could see a nice trade from this set up, and the USD is currently weak, so will pick up strength during the day. No red news for today.
USDCHF seems to be testing the support area a number of times, could be a long term target to hit the resistance. Clear from news and Red news has just passed.
M formation on the 4 hour timeframe, could create a W formation on the support. Session confirmation, as it has been bearish during the London Session.