Using equidistant channel, the DXY is still on a monthly fall with a possible lower channel support on 87.578. In view of a larger bullish channel, a stronger support maybe around 79.50. This bearish move seems to be of higher probability in view of potential economic stimulus in the pipeline, aligned with the narrative COVID-19 market playbook: extreme...
Following on previous analysis Looking to continue short USDJPY upon breakout of the current range to near 105.31 and stop loss near 107.31.
USDCAD continued its bearish trend towards bottom of the weekly channel.
EURUSD just had a bullish breakout with near resistance in sight.
USDCHF is near a confluence of monthly and 4 hourly resistance, will possibly to short and take profit near the target levels.
USDJPY just breakout recent support line. Sell till support then to go long.
A confluence zone between fib retracement of 61.8% and the fib extension of 161.8% of the current retracement. A fib extension 161.8% for price target around 1.1310
After Mr President Trump's election, the bull rally on USDJPY has just retraced, consolidated and broken the bullish trendline formed from 27 Sep 2016 and 4 Nov 2016. With 115.45 as recent top, possibly 107.60 as the next support and entry at 112.50, there is a good profit to tap on.
USDCHF spring off from recent support 0.9786 and looks like to retest 0.9954 in coming days. TP: 0.9954 SL: 0.9786
The sharp plunge with recent pull back formed a typical bearish flag pattern. Stop loss near 1.330 a psychological level 1st Target Price: 1.300 Final 1.2787 (Measured move from Bear flag)
Based on the hourly chart, the bullish trend had just broken a fairly conservation support trendline, with the psychological 0.76 level as a possible resistance, looking to bears to short it to near 0.74.
Simply follow the trend though price action suggest that we are in a trading range. Short term outlook: Bearish 1st target: 129.56 2nd target: 128.60 Stop loss: 130.85
Very simply a Cup and Handle pattern with very wide stoploss. Stop loss near 135.80 and 1st target near 144.
Based on Daily Chart, we have a gentle up trend channel with a wide trading range between 162.73 and 153.63. Strong bullish entry is likely near the region of 155.70 and 156. A break below 153.63 suggest strong bearish momentum that could further GBPJPY to 152. A bullish continuation with the daily trend channel could see GBPJPY near 162.73 (Perhaps due to Brexit...
With RBA lowered interest on Aussie, AUDUSD has broken the bullish trend line set since Jan 2016. It may find support around 0.7450 or a strong level around 0.7250.
Today's AUD CPI disappointing report plunges AUDUSD to around current month's open price. This dip may be seen as a minor pull back at the backdrop of past bull rally since mid Jan 2016. On the 4 hourly, it seems like a real test for strong bears to break 0.7632 region. Should it proves to be a false bearish breakdown, 0.7834 will be the first Target price while...
Follow up with previous GBPUSD analysis GBPUSD has broken out of the large channel. 1st Target @ 1.46 (Psychological level) 2nd Target @ 1.4660 (Feb High)
On 4 hourly chart, we are still in midst of a wide trading range. Considering current bullish sentiments, it is likely that GBPUSD will go higher where 1.4436 is a good resistance marked by the 2 different channels.