AUD/USD Breaks Key Resistance, Eyes SupportThe AUD/USD currency pair has recently broken below a key resistance level, accompanied by increased selling volume. This bearish momentum suggests a potential drop towards the next support level.
Fxtrading
Trade idea - NZDCAD Long4H
Corrective approach towards entry zone.
-68 Fibonacci completion aligning with entry zone.
= Buy limit.
0.75% risk.
Trade idea - GBPNZD Short4H
Bearish impulse / Break of last HL: indication.
Head & Shoulders pattern: confirmation.
Clear support & resistance zone is there.
1H POV
Corrective approach towards entry zone.
-68 Fibonacci completion aligning with entry zone.
= Sell limit.
GBP/CAD Bullish Breakout AlertGBP/CAD has broken out of its ascending wedge pattern, indicating a strong potential for continued upward movement. Traders should watch for further bullish momentum as the pair continues to gain strength.
NZD/JPY Bearish Breakout AlertNZD/JPY has broken below its previous consolidation zone, indicating a potential continuation of the bearish trend. Traders should watch for a strong downward movement as the pair gains momentum.
EURUSD H4 - Short Signal EURUSD H4
In addition to GBPUSD, we also have EURUSD which is at a key area of resistance. This 1.09 handle is acting as a whole number resistance price, amongst H4 supply and previous tested resistance. Certainly a good region and zone for a short confluence stack.
We will be following EURUSD, GBPUSD and DXY very closely this week as we are trading from some significant levels.
EUR/JPY Poised for Trend Continuation: Breakout ImminentThe EUR/JPY pair has shown strong bullish momentum and has already broken out of the recent inside days. The pair continues to respect the ascending trendline and has moved above previous resistance levels. Traders should monitor the potential for further upward movement while practicing proper risk management, with a stop-loss placed below the recent support. Stay tuned for updates as we track the progress and potential targets for this breakout.
Trade idea - EURNZD Long4H
Market was moving in Bull Flag formation.
3rd touch of trend line was aligning perfectly with the -68 Fibonacci.
Missed the early entry on this trade.
New opportunity now to get involved.
Bullish impulse: indication .
Pattern within pattern: confirmation.
Inverse Head & Shoulders, Bullish M.
Clear support & resistance zone is there.
1% risk
USD/JPY grinds higher despite a weaker DXY Ahead of a busy week, the the US dollar index has started Monday's session on the backfoot, largely thanks to a relief rally on the EUR/USD exchange rate. But against currencies where the central bank is more dovish than the Fed – most notably against the likes of the Japanese yen and Chinese yuan - the dollar remains supported.
After Friday’s latest inflation data (core PCE price index), which was bang in line with expectations, more key US economic data is to come over the next couple of weeks. The June non-farm jobs report is due on Friday, followed by the CPI on July 11. This week’s other important data releases include the ISM manufacturing and services PMIs, ADP private payrolls, JOLTS Job Openings, and FOMC minutes.
Given how the USD/JPY has been able to grind higher despite some weakness in US data, it is not unreasonable to expect that trend to continue unless the BOJ/MoF potentially intervenes in FX markets.
Key support comes in around 160.00 now, which was the previous multi-decade high that was hit in April. Below this level, there is not much in the way of obvious support levels to watch until 157.70 area.
Meanwhile, on the upside, the 127.2% Fibonacci extension level of the drop from April high comes in at just below 162.50, making this our next bullish objective for this pair.
By Fawad Razaqzada, market analyst at FOREX.com
EURUSD 1D - Daily TimeframeWe are currently in a bearish context. There are no high liquidity zones above at the moment. It's likely that after taking out the liquidity at the first target, we will see a price reaction towards the fractal high at 1.076.
Stay tuned for further updates as we monitor these movements.
DXY in a critical area.. TVC:DXY - Is in a critical area now almost completing an ABCD rally. Why its so critical is that if it fails in this area then it will likely drop down to the 102.00 area. In turn this will likely give the Indices that one last push higher to complete patterns. If it starts rallying through the 104 level then we will likely see a run to the bigger upside pattern at 108-109 area which will give us a deeper correction in the Indices and likely GOLD. 🧐🧐 Big few days ahead.. 💰💰
EUR/USD hit by weak Eurozone PMI dataThe EUR/USD got another reality check earlier today with the release of disappointing PMI data from the eurozone, suggesting that growth in Q2 may be lower than expected. Add to this the ongoing French election uncertainty and the rise of far-right parties across Europe, and the recent rise in oil prices, the short-term outlook continues to look bearish.
As such, I wouldn't be surprise if the EUR/USD now establishes a new ceiling below the 1.07 handle, with the bears having defended prior broken support levels such as 1.0750 and 1.0790 successfully. The next potential support is the trend support at 1.0650, following by the prior low made in April around 1.06 handle.
By Fawad Razaqzada, market analyst at FOREX.com
Trade idea - EURCAD Long1H
Bullish impulse/ High: indication.
Bullish M pattern: confirmation.
Ascending trend line holding up price.
Corrective approach towards entry zone.
= Buy limit.
1% risk.
Trade idea - GBPCHF Short4H
Corrective approach towards entry zone.
-27 Fibonacci completion aligning with entry zone.
= Sell limit set.
1% risk.
Trade idea - EURUSD Long4H
Corrective approach towards entry zone.
-68 Fibonacci completion aligning with entry zone.
Bullish M pattern, Bullish Fake Out flag as extra evidence.
= Instant market execution Buy.
1% risk.
Trade idea - NZDCAD Long4H
4H Inverse Head & Shoulders pattern aligning perfectly with the Daily one.
Corrective approach towards entry zone.
-68 Fibonacci completion aligning with entry zone.
= Buy limit set.
1% risk.
AUDCAD Sell/ShortAUDCAD looks like a good signal from here that has bounced off resistance, came back a bit, and seems to not be a strong higher low for AUDCAD. Our analysts and myself am calling a sell short here due to the fact this pair has repeated multiple patterns in the same way in the last few months and as well it has the best risk/reward ratio I have seen so worth the bet to make. Please follow the entry, SL, and TP. Please make sure to follow our page for more daily signals!
USDCAD: Detailed Support & Resistance Analysis 🇺🇸🇨🇦
Here is my latest structure analysis for USDCAD.
Vertical Structures:
Vertical Support 1: Rising trend line
Horizontal Structures:
Support 1: 1.3664 - 1.3682 area
Support 2: 1.3590 - 1.3627 area
Support 3: 1.3547 - 1.3570 area
Support 4: 1.3420 - 1.34920 area
Resistance 1: 1.3777 - 1.3804 area
Resistance 2: 1.3828 - 1.3846 area
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️
EURUSD - Key Area. Will the rally fail?OANDA:EURUSD Completed a small Gartley pattern on Friday, now we look for a rally to see if it's going to fail around the 1.0853-1.0880 area.
There are bigger TF patterns that take it a lot lower with the first one down below 1.0600 and larger pattern below 1.0300.
A move above 1.0950 could send it towards 1.1100 and even 1.1300.
That's why this week is so critical to where we head next.
I will post the weekly AI to see if we can find a CIT Window.
Enjoy the week.
EURJPY - Correction over, Back to highs?OANDA:EURJPY Looks to have completed the correction and if we break above 170.00 again then upside targets are around 172.00. Looking for PBs to get long.
Ideal scenario is if we get a move back to 169.00 but watching for a top in this run.
Enjoy the day.
