The Bank of Japan announces monetary policy on Friday and is widely expected to keep rates unchanged after March’s 10bp hike. The market’s focus should therefore be on the BoJ’s quarterly forecast report. Our economics team expects the inflation forecast to be revised upwards, considering the increased inflation in the first quarter, wage growth that exceeded...
🏃♂️ USDCAD is moving in a Descending Channel and is currently near the Uptrend line and🟢 Support zone(1.3704 CAD_1.3618 CAD) 🟢.
💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys .
🔔I expect USDCAD to rise to at least 1.384 CAD after breaking the upper line of the descending...
Abating concerns on Middle East tensions are positive for the pro-cyclical euro, although that also lowers the chances that higher oil prices will force a delay of the European Central Bank's cutting cycle. Market pricing for total 2024 easing is firming up at 75bp, which is also our call.
Substantial data or market events may be needed to force a major repricing...
AUD/USD Ahead of RBA CPI data and US GDP data
AUDUSD this week will face inflation data from Australia and GDP data from the US.
What should we expect?
📺You may watch the video for further details📺
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long 83% Long Target is 162 Short is Ova Extended by 13
But Fundamentally weak.
Break out on London open
Should push down to order block found on the Daily
Break of Strong Support
Trend is Sell
Take Partial Profit
Bring Stop Closer to Price as Trade moves Lower
If it plays out
It better : )
Asian high swept in the London session. Market structure shift and left behind an imbalance which has been filled to get an entry. Shorts targeting sell side liquidity.
From my point of view is it possible an inversion of EURUSD trend.
Now we are at the end of primary cycle of Elliott and in a potential rebound.
The trend created an Head and Shoulder patter (50% possibility) in a critical support area tested more time. So if the price break this area we can have a potential rebound until 1.07 next demand area.
H4, Price formed a lower low and lower high confirmation a bearish bias.
H1, Price have retraced into a resistance level after weekend swing, As price did not breakthrough the resistance level.
In M15 Price took a lower low & lower high, forming a downtrend consolidation. Taking short trade at the night line with a tight SL of 15pips only. Targeting H4 swing low
The analysis started on a 4 hour time-frame down to the 30 minutes time-frame. In the 4 hour time frame the price broke the support zone of a down trend which is marked as SBR. The price showed bearish power. On the 30 minutes time frame, the price had numerous rejections and has one strong bearish power to the down side.
Please share your views or your...
I share whit you my GBPUSD plan
In the next days we will have a short trend.. I hit my first target and I attend a signal for the next move.
Now the cross are touching su resistence area and it is probably a next short leg
A significant head and shoulders pattern has emerged on the intraday chart of USDDCAD.
The pattern's neckline was breached during the Asian session, with a candle closing below it.
I anticipate a downward trend from here on, with the next support level likely at 1.3670.
Bullish trend and potentially on a re-tracement. If price moves lower to break that first low - a grab of liquidity then a buy at zone will be initiated for possible higher prices.
Happy and safe trading week.
The market is obviously in a bearish trend. FX:GBPUSD broke through the range zone and made a new low. The price moved sideways, forming the range zone. I think the market might pull back right into the range zone and move downward. The market has reacted to this level before. I expect the price to go to the support level if the market makes a fake break of the...
The EUR/USD pair trades on a stronger note around 1.06650 during the early Asian session on Monday. However, the pair’s upside might be limited due to the commentary from Federal Reserve (Fed) officials suggesting a shift to an increasingly hawkish stance. Investors will keep an eye on the preliminary Eurozone HCOB PMI for April on Tuesday ahead of the final...
Based on the daily chart analysis, we can see that the price is falling to our buy entry at 1.2330, which is a pullback support.
Our take profit will be at 1.2501, an overlap resistance.
The stop loss will be placed at 1.2174, which is an overlap support level.
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