Usdchf is looking to hit the extensionlevels -27 and mayby more. The rejection of the 618 gave a major selloff this pair. It smashed right trough the .90000 level. Considering this violent break of a key support shows us that the bears are in control.
with a bullish bias of GA & EA in mind, we can expect some weakness in the Aussie. price is having some difficulties to break the 0.63400 level which is the 618 of the Fibonacci. in the next 24 hours we could expect more bearish AUD.
we are watching Euro Australian dollar moving sideways and building support. however, we know from the past that a wick kan test the levels below 1.70. In my opinion, we can have some nice longs in the upcoming days.
but first, I want to see how it will react when it touches the 1.70 zone again.
with a Major rejection at the 786 level of the fib, we saw a nice bearish movement to the first -27 level. we have some room of 100 pips to hit the $20.00 region which aligns with the -618 level. from that level, we can expect some sideways movement and a bullish push. especially now when Trump made a deal with the OPEC for a production cut, and China who is...
with a completed wave and a rejection at the 618 level, we expect that the price can make new higher highs. especially with the fact in mind that Russia started the conversation with the Saudis to stop the price war in the OIL. on the other hand, China recovering from the Covid-19. this can be a double impulse for a bullish oil.
pound- Yen has a rejection of the fib level 786 and we expect a natural retracement to hit the -27 level of this ABCD trade. Our tp area is in the 137.000 zones. it is a range of 230 pips. we will monitor this trade. used RR: 1:5
the us30 had a messy week with 4000 points of drop. a few minutes ago the WHO announced their Corona-virus plan and Wallstreet was not amused. we see that the earnings of yesterday almost have vanished. despite the news, we see that the POC (most trades price level) is rising.
it is still early, but with a cut in the payroll taxes of trump can push the us30 in a...
dax is gaining power after the last horror week. we see a rejection of the fib level the forming of a pinbar. also, we see a clear rejection at the green highlighted area which is an important neckline. that level has multiple support and resistance zones. price has the potential to develop upside in the upcoming 3 days.
USDCHF is at the 0.95 support level and is currently holding it. the candles touched the descending trendline and made a small pullback.
the expectation is that die positive US numbers will push the dollar up. we can see an upside movement till the 0.98 zones.
eurnzd rejected at an important level (1.78) and is almost ended with a nice bearish candle. with a recovering AJ/AU, we can expect a bearish euraud and eurnzd. the reversal of the US30 shows us the sign that the market is reversing from the last horrifying week.