EUR/USD The pair could attempt another visit to the 1.1600 handle and above
Our preference: long positions above 1.1525 with targets at 1.1548 & 1.1588 in extension.Alternative scenario: below 1.1525 look for further downside with 1.1508 & 1.1489 as targets.
EUR/USD managed to clinch fresh tops in the 1.1570 region on Thursday, just to recede to and close around 1.1500.
The potential for a move higher is expected to remain in place while spot trades above the 2-month support line,
today at 1.1319. The immediate target emerges in the 1.1620/30 band, where converge October lows and the critical 200-day SMA.
Sustaining the ongoing bull run, spot is once again trading above the daily cloud for the first time since mid-October 2018.
AUD/USD bulls struggle to make it through 100-DMA barrier
Our preference: long positions above 0.7180 with targets at 0.7188 & 0.7204 in extension.Alternative scenario: below 0.7174 look for further downside with 0.7155 & 0.7142 as targets
AUDUSD was strong bearish in 2018 and we were selling AUDUSD right from the top when it was at the 0.81.
The bearish fall was very nice and we enjoyed that fall very well. Now its time to look for it to go back up and hit the 0.81 area again. .
So we have enough price action on lower time frame for reversal. Which means we should look for correction on lower time frame for reversal on AUDUSD .
You will have many buy opportunities on AUDUSD . In the same way the way you were having sells every time when it was correcting back and you guys were selling it.
How you can trade on this chart.
1. We are already having very nice strong impulse and if you missed the long from bottom then watch for the correction on lower time frame and go long.
2. Let the price test the bottom again and go long from bottom.
3. Wait for my updates. For these updates you can follow my weekly market outlook where i show how to look for buy.
Gold Technical Analysis: Deeper pullback likely below 55-period EMA on 4H
Our preference: short positions below 1286.00 with targets at 1279.00 & 1276.00 in extension.Alternative scenario: above 1286.00 look for further upside with 1290.00 & 1292.50 as targets.
Gold bears may feel emboldened if the 4H 55-candle exponential moving average (EMA), currently at $1,280, is breached.
As seen above, the 55-candle EMA has acted as strong support twice in the last six days. Therefore, it is the level to beat for the bears.
More importantly, the yellow metal has carved out a lower price high,
validating Friday’s bearish outside reversal candle.
Put simply, the bull grip has weakened in the last few days. As a result,
a break below the 55-period EMA could yield a deeper pullback, possibly to $1,260.A violation of the falling trendline seen in the above chart would shift risk in favor of a re-test of $1,300.
GBP/JPY stabilising above 138.00, looking for more as risk appetite steps higher.Our preference: as long as 137.42 is support look for 140.02.
Alternative scenario: the downside breakout of 137.42 would call for 136.45 and 135.87
Early Monday sees risk appetite on the upswing as the Yen takes a step back across the board, albeit mildly.A lack of notable data this week for the UK sees Brexit front and center for traders’ attention.GBP/JPY is trading into 138.20 in early Monday action, continuing to test into last week’s highs after the Sterling spent a couple of days recovering from a Yen-fueled plunge that saw the Guppy plummet into the 131.50 zone as traders flocked towards the
Japanese Yen on renewed risk sentiment, with a notable lack of market liquidity exacerbating the move. Overall markets have recovered from the risk-off drop, though the GBP/JPY pairing remains down for the past week as Pound bulls struggle to regain the 140.00 level.
Monday is a nice and quiet showing on the economic calendar for both the GBP and the JPY, with little of note worth mentioning, and the next high-impact reading for the UK won’t be until Friday’s monthly GDP figure,
leaving Sterling bidders free to try and surf the inevitable wave of Brexit headlines that are sure to continue as the EU withdrawal quagmire continues to pull down all participants.
AUD/USD Technical Analysis: Aussie trading at session’s highs near 0.7050 level Our preference: long positions above 0.6985 with targets at 0.7070 & 0.7100 in extension.Alternative scenario: below 0.6985 look for further downside with 0.6950 & 0.6925 as targets.
AUD/USD is trading in a bear trend below the 200-period simple moving average (SMA).
The Aussie is trading near 3-year’s low.
EUR/USD recovery fizzles near 1.1385 ahead of US ADP, ISM
Our preference: long positions above 1.1335 with targets at 1.1400 & 1.1435 in extension.Alternative scenario: below 1.1335 look for further downside with 1.1310 & 1.1270 as targets.
Consolidating the recovery, as the bulls take a back seat.
Downbeat US macro data could drive EUR/USD back above 1.14 handle.
The recovery in the EUR/USD pair from the flash crash lows of 1.1310 faltered in the upper bound of the 1.13 handle,
as the bulls take a breather before the next push higher.
The spot is seen paring back the recovery gains, now consolidating in the familiar range near 1.1370 region,
as the renewed uptick in the USD/JPY pair appears to offer a fresh sign of life in the US dollar against its major rivals.
However, the recovery in the greenback looks short-lived amid an extension of the declines in the US equity futures and Treasury yields,
which may eventually send the EUR/USD pair back above the 1.14 handle.
Further, a below estimates US ADP jobs report combined with a dip in the US ISM manufacturing PMI reading could accentuate the dollar’s downside,
triggering a fresh buying wave around the spot, as the buck remains the exclusive driver for the major so far this Thursday.