The USD/JPY pair has been trading sideway since July H4 chart. I expect it to maintain the status quo. A fall is eminent as price is at selling zone
GBPJPY now set to rally after testing August low. overall trend sentiment is bullish
US Dollar may struggle to preserve bullish momentum. On the chart is H&S chart pattern, signifying price reversal.
Euraud overall trend is bullish. I am expecting price to visit March low where it will find support. This will give more confirmation to go long on EURAUD.
The greenback strengthened late last Friday, amid higher US yields and some risk aversion. The US 10-yield rose to 1.35%. Economic data from the US showed higher than expected PPI inflation in August. Consider buying the dollar because it would strengthened further this week. Noticed DXY broke the counter trendline and it would advance to 93.16 resistance.
GBPUSD tested 1.3880 handle and got rejected twice by strong selling pressure thus, forming a double top chart pattern. The market is in a strong selling pressure to test four hours support (1.3730). The break of 1.3730 support would cause price to plummet to test 1.3600 psychological level which is four hours demand zone.
NZD/USD has approached the descending trendline that has been in place for sometime. As we are expecting NZD weakness, it would push NZDUSD down
Two weeks ago we milked cadjpy hardly. here is another opportunity to sell
AUDJPY could be in a bigger weekly correction where we may another move down. Also I am anticipating JPY strength which could make this pair move in my favour.
Consider sell aussie (AUD/USD) when price breaks 0.7410
Price is approaching major descending trendline, where we will be looking for bearish price-action.
EUR/JPY is within a parallel descending channel and price as approached the channel resistance. JPY strength would help push EUR/JPY down.
Gold is at a critical zone although, I am expecting a drop if price is rejected.
We went long on USD/CAD and took 87pips profit before price dropped on last Friday during the American session. The broad-based USD weakness following FOMC chairman Jerome Powell's speech at the Jackson Hole Economic Symposium was the reason USD/CAD dropped to find support (our previous entry). Entry, stoploss and take profit will be posted on premium channel.
AUD/JPY is trading in downtrend, and it has created series of lower high and lower low. price is expected to continue its trend. consider taking a short position.
In my previous AUDUSD post I mentioned that I expect AUDUSD to retrace to 50%-61.8% fib. level. audusd is expected to resume Its bearish moves.
The usdcad pair plummeted to a fresh weekly low during the American trading hours on Tuesday. The pair is expected to rally after a successful test of 1.2573 support.
NZD/USD could face some additional pressures in the open on Monday as news circulates over the prospects of a worsening wave of coronavirus. On Friday, NZD/USD closed at 0.6830 and up by some 0.1% as the US dollar gave back some ground with a rise in risk appetite on Wall Street. We will take a long position when price gets to us. Entry, stoploss and target...