AU is still in uptrend .
11Aug , it formed a nice PB following down bar.
12Aug Down move might bring price to 0.755-0.762.
0.755-0.762 is a critical bull/bear Fighting/Flipping zone.
if Bull wins, it will head to 0.782xx or further, otherwise expect to dive to 0.747x zone
Currently a bit late to short, ...
GC failed to break out of 1.752- 1.717 Zone and on e way to retrace 1.715x -1.698 Zone.
***1.715x -1.698 Zone is supporting well for last 20 days.
Price might go past 1.698 but unlikely since bad news days r over. if go past, it will dive to 1.674-1.667.
Wait for re-tracement to 1.715x -1.69xx (at least) ...
GBPJPY is still in BearZone and Bears are not out of the wood yet :) . Rate cut on 04Aug flavored it further breaking down trend line.
To regain bull bias, it has to overcome Range Zone (136.6xx to 141.4xx) which will take a week or two.
If 132.9xx lvl hold, it might bounce up back to Ranging Zone.
My Strategy, ...
CADJPY is at critical support zone (76.9xx-77.5xx).
If break 76.8xx, it might test 75.7xx, 74.8xx,74.0xx,73.5xx (which i hope not)
On the flip side, it could retest 78.000-78.5xx zone (high probability)
My Strategy, short if break 76.8 (SL- 77.25) and long once break 77.5 (SL 76.75)
Closed the week with weaker bullish engulfing bar than GBPJPY signaling a trend change to bull bias. Confirm with next week candle.
Friday close formed a pinbar (very bearish) with highest volume for the week which i guess a profit taking event coupled with rate cut possibility from BOE.
Looking at ...
Closed the week with bullish engulfing bar signaling a trend change to bull bias.
Confirm with next week candle.
Friday close formed a pinbar with highest volume for the week which i guess a profit taking event.
Looking at the volume and situation (monitoring Abenomics rumors/news) last friday, we ...