Eur/usd has broken away from its downward channel with a double bottom formation. Moreover, there is a clean break above 1.12 resistance region. A retracement back to 1.125 resistance broke support region for long limit would be a low risk trade.
From the chart we can see upper shadows formed on GBP/AUD . Might re-visit 1.819 support area next week watch closely. A closed bearish candle will be our sell signal. From the weekly chart, we have a hunting stop candle during 6 May. Followed by a gap down on 20 May with price trying to close the gap but failed, and in this week price was trying to close the...
Upper shadow was formed on Friday's closing, respecting well 1350 resistance level. We are likely to see gold retracing back to previous resistance broke support ( 1330 ) area. Watch 1350 very closely.
For the whole of last week, all of the nzd/usd candles closed green. However, nzd/usd has respected its 0.6687 resistance well. It is noticeable in the last 4 hour of the trading time on Friday. I am expecting it to go lower before going even higher due to the weakness due to the expectation of FED lowering its interest rate. A long limit around 0.66 would be a good one.
cad/jpy has been making series of lower high and lower low. With the monday gap glosed with a bearish candle and a rejection from the 81.824 resistance level, there is a high probability of it going back to 80.
We have a strong downward pressure within the market structure itself. Watch 1.937 closely as it is a critical support broke resistance. And form of bearish engulfing candle closed can be a good signal for short limit entry.
Trend is still bearish. We might see a retracement to the previous support broke resistance with that morning star. Sell limit at 0.890 can be considered a low risk trade.
USD/CAD has closed above 1.35 that it previously has trouble with for the past 1 month. Bullish momentum is going strong for usd/cad , a retracement back to its previous resistance broke support can be an extremely good entry.
14 April 2017 candle support has been well respected with high volume on 9 May 2019. Buy limit at 108 can be considered an extremely low risk trade. 110 can be a tough resistance. We will see from there.
Market has failed to close above 29 MAY candle and is trading within this candle range for this past week. Bullish momentum is losing its steam as can be seen from the market structure and also the high volume candle. Waiting for confirmation to close below 29 May candle for trade entry. Watch 3.935 support very closely. I am expecting 3.935 to hold.
With 1.622 being the strong resistant, a gap down with a failed gap cover, there is a high probability that EUR/AUD is going down, a retracement back to the gap can be considered a low risk trade. Price has closed below 20th May candle confirming the bearishness. A sell limit around that area would be a great one.
Resting well on the 1.940 area with a spinning top candle, we might see the bull trend continues if today's candle closes with a bullish one. Long Limit here can be a considered a short risk trade as this is a price consolidation area. However, we should take note of the 1.97884 area(TP) as the long wick (8 May) might be a tough resistance for the price to break upwards.
A very nice morning star formation. With market participants expecting the Chair of Federal Reserve reducing interest rate in the near future, we might see 2879 by the end of this month. This is a trend continuation trade.
USD/CHF has been following the trend line pretty well. Series of higher low and higher high has been made. 0.992 to 1 is a good range for buy limit if the trend line and resistance turn support were to be respected. No signs of strength from CHF yet. A bullish candle closing on the trend line can be an extremely good buy signal.
There is no obvious sign of bullishness in the chart but we are seeing a retracement with Thursday and Friday's candle. Sell limit at 0.668 can be an extremely low risk and rewarding trade.
Oil is due for retracement if 52 price level is heavily supported with a hammer candlestick close today. A retracement back to the 56 level is very likely possible. A sell limit at 56.7 is a good trend continuation trade.
After breaking up from the downward trend pattern with a closing strong bullish bar on Friday, we might see gold heading even higher. A long limit at 1290 would be a high probability trade. Next resistant to take note is 1320 area.
GBP/JPY has been falling sharply due to the depressing oil price. Do take extreme precaution on the short side as the price is visiting its critical support of 1.36. The next support would be near 1.347 if the price were to fall below 1.36.