AUDJPY currency pair appears to be locked in an indecisive range between 79.606 & 77.753 cluster zones. Our outlook is neutral at the moment but might provide opportunities for range traders. Current price action warrants further observation in candle behavior as a daily close that completely engulfs previous day's candle (reverse hanging man) or a daily close...
The AUDUSD is tracing out what appears to be the finishing stages of a downward move. Downward momentum appears to be finishing and our bias is largely bullish for the pair. However current downward move could still stretch to as low as 0.70191/0.70137 cluster zone. At this zone we expect to see strong buy orders enter the market if not before.
AUDCAD has assumed a bullish shape. Currently we anticipate consolidating into long positions just above the blue trend line shown with target in the 0.96388 region. However, any price move or price close on a daily basis below 0.9352 zone invalidates the bullish outlook
Adjusted USDJPY direction. Above or below support (red) and resistance (green) zones around current price action shown is recommended trading and entry areas in the downside or upward direction respectively as the case may be. Target is as shown also once break out on daily close is confirmed.
NZDUSD currency pair appears to be keeping to the plan. With 0.69708 resistance taken out sights are now placed to the upside for possible swing trade to 0.71923 first. Further close above there will open up further upside potential to 0.74478 cluster resistance zone.
On the downside, a daily close below 0.69531 should invalidate any bullish view on this pair for...
EURUSD a-b-c correction nearing completion. Anticipated bullish orders to enter market after potentially short downward move as shown. Down move would be highly overstated with gap-down on open and thus invite volatile bullishness into market.
EURUSD pair has reached consolidation zone. Further downside momentum is viewed as taking a pause at key support zone 1.17606. Further daily close below this level will bring key cluster support zone @ 1.5540/1.5512 into focus. Further breach below the latter zone will open up 1.13246 support as next potential target.
USDJPY pair has breached two consecutive important resistance levels namely R1 @ 107.933 cluster zone as shown and R2 @ 110.376 respectively. Current price action is viewed as a "wait and see" effect as price consolidates at minor resistance of 111.439. Consequently, next target is opened up and eyed @ 113.380/113.781 cluster resistance.
GBPUSD is currently trading below key support area of 1.37162 and our bias for this pair is now bearish. Concern for growth in the UK and slower than expected interest rate increase could drive the price of this pair lower. Next target is @ 1.30528 cluster support zone as shown.
CADCHF experienced some shaky sell-off last week following some fundamental numbers in retail sales. We view that sell-off as trend correction and is potentially over as the continuation of the uptrend which began on the 6th of March 2018 could possibly be underway to completion. A daily close above 0.76594 should further solidify this case.
With BTCUSD -8.09% forming an evening star pattern at critical resistance level , we favour deeper correction of current upward momentum towards 50% retracement of 11239.0 to 7878.50 @ 9558.70. Overall view is still mildly bullish provided price is contained above 38.2% retracement of 11239.0 to 7878.50 @ 9162.2. Price close below 9162.2 will invalidate any bullish bias
haven't done this for a while now. However, AUDUSD 0.14% pair showing bullish gusto. R1 already taken out as shown, bringing R2 into focus as next target. Should R2 be taken out on the daily close, R3 becomes next focus.