EURNZD📊looks appealing for the week ahead.
The first is the short-term ascending channel you see in the chart below.
A daily close below channel support would signal weakness and also expose the next key support around 1.6560.
The bearish pin bar on the weekly time frame hints a continued weakness for the pair.
EURJPY📊could be one to watch over the coming weeks.
That’s especially true if we see the euro continue to weaken.
I’m mostly interested in an eventual close below ascending channel support, which comes in near 121.00.
Such a break would expose lower levels including 119.30
For the week ahead, the 122.90 region could continue to attract sellers.
However, I’m...
After bouncing from the 1.2980 key level earlier this week, the GBPUSD is carving a potential bearish engulfing candle today.
I say potential as today’s session isn’t over yet.
We’ll have to wait and see what happens next week, but a daily close below the 1.2980 area could send the pair lower.
Key support levels below that include 1.2770 and 1.2570.
AUDUSD📉the pair will likely remain indecisive as long as the price is between 0.6930 resistance and 0.6830 support.
The latter is the bottom of the ascending channel that extends from the October 2019 lows.
If we do see buyers close the pair above 0.6930, the AUDUSD would likely trend higher toward 0.7015.
A daily close below ascending channel support, on the...
EURGBP📈is above the channel top near 0.8530, I have to respect the bullish potential.
Just remember that a daily close above 0.8590 is still required to garner the attention of would-be buyers.
As long as 0.8590 is intact, a conservative approach is warranted, in my opinion.
A daily close above 0.8590 would expose 0.8680 followed by 0.8800.
Alternatively, a...
