Similar setup to AUDUSD (AUDUSD analysis to follow), however a little cleaner in my opinion in terms of technicals and targets, the conflicting factor is the ACTUAL performance of the NZD vs AUD, AUD being the weaker amongst the two.
Need to make sure we are trading south of these trading zones going forward, support has broken but we must ensure...
Back on support price of 1797, the range continues... We didn't quite push up to resistance. But filled majority of the range.
Bit late for us personally, but interested to see where we are tomorrow for EUR/LON market open.
Potential short range here down to support here, nice price action close on that previous H4, means we have continued that lower low sequence on that last correction wave.
Eyes peeled on the M30/H1, looks like a structure break and retest for a potential upside move. Higher timeframe takes precedence remember.
GBPJPY H4 - Still in play here, little bit of a correction from that 141.300 price as markets opened yesterday. Sold off down to the closest support zone (140.300).
We have seen an initial bounce from this price and now threatening those previous highs from last week, back on 141.300. A Solid break and retest of this price could signal GBP bulls, but that B&R is...
GBPUSD H4 - Popping up higher and breaking above correction highs, failed to set new lows means GBP pairs are seeing a bit of a SUSTAINED RECOVERY from Mondays selloff, not just a corrective pullback, if we retest and sit on 1.34 support, we could look to scout out longs up to 1.35. Back in trading range, and volatility has settled into this week.
EURUSD H4 - Currently pushing a key resistance zone, we have marked and annotated the monthly key level, resistance zone and 1.19 whole number, usually we would look to short this, but DXY is looking weak and we may be ready for an upside break, we have an ascending trend too, with sellers losing strength each time we push 1.189, breakout may be imminent. A break...
NZDCAD D1 - Daily close yesterday saw the upside breakout, a retest of the newly formed support zone could warrant buying opportunity off the back of todays close. Already starting to see a pullback, we have breakout highs, resistance to support and 0.90 whole number too, so a handful of confluences. RR is also sitting at a huge 1:6.
GBPJPY H4 - UK PMI data was positive, along with retail sales data before the session had even kicked off. Looking to see if we find support around 138.850, we could then look to trade back up to resistance.
DXY H4 - This week ended being quite choppy after FOMC and jobless claims data. Broken and retraced back into a big trading zone with threw things a little for me. If we can break support again, we could classify that previous recovery back above into that 92.60 resistance a fake out and data fuelled, something short lived which couldn't hold, expecting support to...
GBPCAD H1 - Starting to restrict a little here at this resistance zone. As indicated, we ideally need to break and retest this resistance (turn to support), when we find support on the retest, this could be our buy opportunity. Break and retest is imperative, otherwise you'll effectively be buying from resistance. Some other GBP pairs looking like they want to...
GBPJPY H1 - Very much just resumed play from yesterdays action, nice break and retest of that flag consolidation, before then pushing upside again, new highs been set after the breakout which is positive for further upside potential