UK100 is hovering near the 6650 support. If the support holds, there may be cause for bulls to enter.
AUDCHF has repeatedly tried to push (and failed) through the 0.76 to 0.77 resistance. The pair may attempt to push and challenge the 0.755 resistance again before falling in the channel.
The pair has hit the 2016's lowest point and is likely to continue that trend. The 1.055 support has held so far and this week's ECB's decision may strengthen the Euro in the short term. Expect the 1.08 resistance to hold and knock the euro back down.
The pair has been forming a series of lower highs and lower lows. Last week, it formed a textbook case of double bottom. However, the pair may fall further to test the 1.038 support before reversal. If the support AND trend channel holds, bull may seep in for a short term bull run.
USDJPY has been on a steady uptrend since U.S. Elections Day. NFP data on Friday suggests that there may be cause for a Dec rate hike. Expect the market to price in this cause to test the 115.6 resistance.
Bears has started to come in as the pair nears the 1.347 resistance. We see the pair losing momentum as well.
AUDUSD is nearing a major resistance zone where it has been resisted 4 times. It was resisted again yesterday. The pair may push slightly before falling.
A series of trend channel support followed by a long bull candle suggests the bulls may be in. However, some bulls may fall out of the race, which may result in a short-term retracement before the support 1.095. There is also more reward upside than downside, albeit a counter-trend trade.
GBPUSD has been continually supported in the 1.208 to 1.214 range. As long as that level continues to hold, I'm seeing more of a bull run in the H4 chart.
The pair broke out of consolidation but this is followed by a reversal candlestick pattern. This could indicate a downside near term. However, we do see the 103.5 level holding well. As long as that level doesn't break, bulls should continue to push.
USDJPY was in range last week, hovering between 103 to 104.5. Structurally, there is more downside than upside. However, if 103 to 103.5 continues to hold, bulls may be coming in.
The levels 1.2340 (Resistance) and 1.207 (Support) seem to hold well on the H4 chart. Looking at the setup, the pair may fall to test 1.212 before testing the resistance.
EURUSD has been falling well within the channel and looks to continue that fall this week. Expecting the 1.095 level to be challenged before falling further. On the flip side, it is nearing its 2016 low at 1.079, so take caution near that trend support.
GBPUSD may start entering a range, judging from last 4 days candle movement. The bulls may be waiting near its previous triggers, which could be around the 1.18 to 1.19 range. The pair is expected to fall lower before hitting the bulls.
Similar candle pattern (10/6,10/7,10/10) shows possible and further weakness in the pair. Following the large drop/fall, the pair may enter retracement before further weakness kicks into the euro. Immediate levels to watch: 1.095 (support), 1.1086 (resistance)
Gold has been hovering between 1248 and 1258 range for the past week. The downward momentum seemed to have been halted for the timebeing. If the 1245 level holds, it may signal the start of a bull.
Price was rejected 3 times around the 104.5 level, which may signal weakness in the pair. If the 104.5 level continue to hold, we may see the bears start coming in.
Price was rejected near the resistance of 104.2. A dismal jobs report drove the pair lower eventually. Further weakness in this US data heavy week will drive the pair lower because the likelihood of an OCT rate hike will be much lower.