GBPCAD is in a downtrend after coming off a weekly resistance level.
A big bearish rejection candle was printed yesterday off a lower high indicating likely trend continuation.
We will try to get in on a retracement
SL above previous candle high
EURUSD has been in a downtrend in recent weeks, but has now hit weekly support where it formed a triple bottom, and now seems to be building strength off that level.
It is now squeezing up in the triangle highlighted on the chart.
At this point it’s unclear where the market wants to go. Will the downtrend continue and break though that weekly support level, or...
EURUSD is in a downtrend and has printed a bearish outside candle on the daily chart after pulling back to a swing level.
This indicates a probable move lower back into weekly support, with potential to break that support level.
SL above 1.1753
Target weekly support, and watch for breaks of support for second target.
NZDUSD has pulled back to a weekly resistance level and has printed a long tailed bearish rejection candle.
This indicates that price will probably continue lower in the context of the existing downtrend.
SL above 0.6848
AUDJPY has been in a range in recent weeks and looks to be heading up to the range top (resistance)
We will be looking for buying opportunities on pullbacks/ buy signals at higher lows.
Otherwise we will be looking to sell from the range top if we see a sell signal.
SPX500 has been trending up in recent weeks.
It looks like it will break the resistance level at 2787. We will be looking for pullbacks/ buy signals on higher lows if it does so.
Otherwise if it breaks back down below this level we will look for shorting opportunities.
XAUUSD is in a downtrend and has reached a weekly support level and looks like it wants to break it.
We will be looking for a clear break though support, and then pullbacks to get in short on lower highs.
Otherwise if the support level holds we will look to go long on very convincing buy signals.
NZDUSD is in an downtrend and has broken through a weekly support level.
Last week it pulled back to that level before continuing down.
We will be looking for pullbacks and sell signals at lower highs to go short.
AUDUS looks like it is building strength as it is coming off weekly support, but is still technically in a downtrend.
We will be looking for any bullish signals on pullbacks if we see an emerging uptrend.
Our preferred strategy will be to look for shorting opportunities when it reaches the descending trend line/ resistance level at around 0.755
GBPUSD is still technically in a downtrend but could be building strength as price is coming off a minor weekly support level.
On Friday we saw quite a big bullish tailed candle printed which could signal a possible emerging uptrend.
If we see evidence of further bullish signals on pullbacks (ideally to 1.3294), we will look to go long.
Otherwise if price...
After a strong downtrend in recent weeks, EURUSD is now moving sideways between weekly support at 1.1528 and a resistance level at 1.1844
and looks like it's now in the middle of this range.
We will be looking for sell signals off 1.1844 resistance level, or buy signals off weekly support.