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MarketBreakdown | GBPUSD, USDJPY, AUDUSD, S&P500

Long
OANDA:GBPUSD   British Pound / U.S. Dollar

1️⃣ GBPUSD - 18H time frame 🇬🇧🇺🇸

GBPUSD is currently one of the most boring major forex pairs.
The price remains stuck within a horizontal trading range trading in a global bullish trend .

Recently the support of the range has been reached, now it looks like buyers will try to retest it again.

For intraday scalping consider the boundaries of the range:
Resistance: 1.42 - 1425
Support: 1.408 - 1.41

For swing trading, wait for its bullish breakout.

2️⃣ USDJPY - Daily time frame 🇺🇸🇯🇵

The market remains bullish .
The price is trading within a rising wedge pattern.
The pair is quite close to its support.

I will look for trend-following buying opportunities from there.

Being short-biased, look for a wedge breakout.

3️⃣ AUDUSD - 12H time frame 🇦🇺🇺🇸

The pair is trading within a wide falling parallel channel .
Now the price is testing its resistance.
For now, bias remains bearish and the price is forming a head and shoulders pattern on an hourly time frame confirming that.

Closest strong support - 0.765

For buying opportunities let the price break and close above the channel's resistance first.

4️⃣ S&P500 - Daily time frame

The price is close to all times market high.
With a sequence of higher lows, we see a clear sign of a bullish accumulation.
I will be not surprised if the price will break that to the upside.
Pumping continues.

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Comment: Check my new analysis on USDJPY:
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Comments

Great idea, here's my outlook on GBPUSD:
Reply
VasilyTrader UmarAbdurRehman
@UmarAbdurRehman, good idea!
Reply
Nice analysis!
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VasilyTrader UnitedSignals
@UnitedSignals, thank you brother
Reply
I would be buying from this resistance
Well done!
Reply
VasilyTrader SignalProvider
@SignalProvider, thanks a lot buddy!
Reply
How about eurusd?
Reply
VasilyTrader momindekk1
@momindekk1, Still bearish bias there
Reply
as always good analysis
Reply
@YMGroup, thank you so much my friend
Reply