EUR has finally reached a strong support zone. We have several major reports tomorrow that may cause big moves in USD pairs. US CPI will probably impact this pair the most, I have two bullish scenarios IF DEMAND ZONE does not break.
EURO's uptrend is declined by a strong sell zone @ 1.117000 level. We may see EURO continue to fall until the end of this year as the U.S. economy strengthens. Also, ECB is determined to maintain its present monetary policy until conditions improve, there's no positive fundamental news for Euro.
We may see a little bit of retracement @ demand...
The GJ pair provides great long opp. It recently broke out from symmetrical wedge pattern and confirmed it has a higher chance of going up. It looks like it will continue uptrend as UJ is trading within the uptrend line as well.
The next supply zone is @ 143.7XX area if it breaks out from 141.000 - 141.300 resistance zone.
Good luck traders, may...
Gold has been trading within range for a few months. there is strong resistance in1540.XX area and the prices are making lower highs since it hit the highest of the year in September. We may see the gold re-testing 1500.xx area before it hits the demand zone @ 1450.xx. We have two long and short scenarios form there.
1460 is a pivot price to watch.
We may see dollar retracement as FED has turned to hawkish and stated the FED will not either decrease or increase the rate until it sees a really significant rise in inflation. Also, DXY is approaching major buy area =supported by uptrendline= around 96.60-96.80 which supports GBP short idea.
Entry: 1.30000 + - 10
SL : above supply zone
The cable tried to go above and beyond 50% fib level several times for a few days, but the 50% fib level is acting as strong resistance.
I see it as a good opp for short,
SL above wick
TP at the green demand zone
This trade provides great RR
UJ has formed very ideal inversed head and shoulder formation. I see this as a great long opportunity for a mid-term swing.
DXY is currently sitting above the uptrend line at 97 point level and most likely move up that will drive all USD pairs.
Entry @ demand zone
TP @ 1st Supply zone.
If you are holding the pair for mid-term it will reach 110.XXX area.