GBPJPY Approaching Weekly Bullish Trendline. What Next?
GBPJPY is on course to approach the trendline of the massive bullish run we've been in since March 2020. This could be a deciding factor in the GBPJPY traders for the rest of the year. What do we know about trendlines? Price either holds and bounces off the trendline or price breaks, retests and continue...
EURUSD Double Bottom -ing?
EURUSD is approaching key level 1.16500 and could potentially double bottom and reverse.
EURUSD is inversely correlated with DXY which simply means if DXY is bearish, EURUSD is bullish.
Wait for price to reach our area of interest, confirm bullish presence and enter the market.
AUDUSD bounced off the Daily Major trendline last week and bears have taken over
We anticipate AUDUSD bulls to enter the market at weekly lows around the 0.7000 area which would form a daily double bottom to take the marker higher.
You could either look for entries to take it lower or patiently wait for it to reach our area of interest. This is in confluence with...
DOLLAR INDEX - DXY Analysis
DXY has broken above previous resistance of which we are expecting a retest and a further continuation to Daily major resistance around the 93.000 level.
This bull run could be potentially over it that resistance level holds.
We'll be looking for XXXUSD longs and USDXXX shorts on correlated currency pairs once bearish presence is...