As on 4hr TF price has broken key support area and now retesting the are of value (1640). If it breaks and drops down more we could potentially see price dropping to 1622.
IN AUDCAD price was its support and previous range resistance area on the monday open wait for the direction of market if price break its trendline and black level to the upside the good setup to trade for long and the targets are next level which is 0.8794 and thursday high/
2nd scanario/
if price break this level of support to the downside than we see on the...
In eurgbp price break the strong trendline resistance and also retest its previous resistance now as a support and buy candle bulls potential i see in the market. Also on finviz heatmap eur is stronger than gbp its also give confirmation to short eurgbp.
LONG ACCOURDING TO CHARTS
DXY H4
So far moving pretty much as expected, we have had this assumption and market bias and expectation for a little while now, and it's starting to unfold.
Lower low and lower high structure trend, with the exception of FOMC Wednesday. Hopefully we can see DXY fall too 100.00, gold push to $1900 and cable 1.30.
DXY H4 - Bit of a correction seen here on DXY H4 chart, might have a little more upside mileage before gearing up for yet another downside wave, if so, eyes on Cable to push new highs and bounce yet again from that 1.35 support region.
GBPUSD H4 - Possible long position very similar to GBPJPY if this support zone holds, ties up quite nicely with DXY resistance too. Eyes peeled. DXY analysis to follow.
GBPJPY H4 - Must await a candlestick close on the H4 timeframe here to give us that confirmation we are looking for to see some downside pressure. Massive rally seen here, ***YEN pairs ripping upside for the most part, would be good to see some corrections soon, RR ticks the boxes as long as we don't dump.
Gold H4 - Looks like gold may now attempt to break support. Eyes on a minor break and retest, probably want to ignore the eastern play and focus on current price for the initial breakout.
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...
AUDCAD H4 - Little way away, but we smashed through that 600 price we were talking about in the previous rundowns, now looking for a trendline retest for the next possible long entries.
EURCHF H4 - Still on fire the EUR edges higher, we broke that double top zone yesterday, saw a nice couple of H4 retests and have since taken off. Next area of resistance is 1.07600, a break of this should see up edge higher.
GBPAUD H1 - That selloff candle after the retest was intense, just missed that unfortunately, but a key support zone has been broken and now trading as support/resistance.
EURUSD H1 - Nice zone here on EU, simply rally and price action pullback, trendline and local S/R playing out really well, trading above 1.13 at the moment after the latest correction. DXY still down trending.
GBPJPY H1 - Pulling back to that support zone, bit of a scalp zone. A zone to impulse buy and quickly move stops to entry price with a wick entry. If we bounce and get enough upside momentum we could push 134.650 (neckline price).
