Weekly perspective:
Another big loser on the week amid a mix of ongoing Brexit uncertainty, political upheaval and BoE policy perceptions as ‘no-deal’ prospects increased. Erasing in excess of 230 pips last week, cable eventually shook hands with demand located at 1.2589-1.2814. Having seen this area tested once already in August 2017, further selling could be...
AUDJPY is approaching its support at 81.35 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 82.60 (50% & 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching it’s support at 3.3% where a corresponding bounce could occur.
GBPAUD is approaching its support at 1.7274 (61.8% Fibonacci extension 50% & 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 1.7571 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 1.712% where a corresponding bounce could occur.
NZDJPY is approaching its support at 72.68 (100% Fibonacci extension x2, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 74.95 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 1.53% where a corresponding bounce could occur.
EURCHF is approaching its support at 1.1451 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 1.1548 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 5.4% where a corresponding bounce could occur.
For those who read Thursday’s briefing you may recall the team highlighted a possible H4 buy zone marked in green at 110.65/110.81. We liked this area for longs due its construction:
• July’s opening level at 110.65.
• H4 support at 110.76.
• 61.8% H4 Fib support at 110.81 (green line).
• Stop-loss orders below 111 will likely provide bigger players the liquidity...
EURUSD reversed off its resistance at 1.1626 (61.8% Fibonacci extension, 38.2%, 50% Fibonacci retracement, horizontal overlap resistance) where price could drop further to its support at 1.1533 (horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur.
USDJPY is approaching its support at 110.70 (61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal overlap support) where price could bounce to its resistance at 112.18 horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching it support at 7.9% where a corresponding bounce could occur.
CADJPY is approaching its support at 84.80 (100% Fibonacci extension x2, 76.4% Fibonacci retracement, horizontal swing low support) where price could bounce to its resistance at 85.43 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 3.6% where a corresponding bounce could occur.
EURJPY is approaching its support at 127.77(100% Fibonacci extension x2, 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where price could bounce to its resistance at 130.20 (50% & 61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 1.93% where a corresponding bounce...
On Wednesday, China’s Commerce Ministry announced it will slap 25% tariffs on USD 16bln worth of US imports, and will begin collecting these tariffs from August 23rd. China said the moves were necessary counter-measures to US tariffs. Demand for the safe-haven yen pulled the USD/JPY beneath the 111 handle in recent trade, consequently exposing a green H4 support...
GPDAUD is approaching support at 1.7404 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swimg low support) where price could potentially rise to its resistance at 1.7614 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is testing its support at 1.71% where a corresponding rise could occur.
AUDJPY is approaching its resistance at 82.75 (61.8% Fibonacci extension, 38.2% & 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse back down to its support at 82.01 (100% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its resistance at...
USDCAD is approaching its resistance at 1.3084 (61.8% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal swing high resistance) where it could reverse down to its support at 1.2967 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal is expected.
AUDUSD is approaching its resistance at 0.7438 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 0.7382 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) could occur.
Stochastic (55, 5, 3) has reversed off its resistance at 96% where a...
US equities extended gains on Tuesday, punching to highs of 25649. A lack of fresh headlines on trade conflict allowed investors to remain focused on upbeat earnings figures.
As a result of yesterday’s move north the July 27 high at 25559 was engulfed, forcing the H4 candles into supply territory at 25685-25535. While this H4 supply will likely be no ‘walkover’,...
AUDNZD is testing its resistance at 1.0985 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 1.0843 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is testing its resistance at 97% where a corresponding reversal could occur.
GBPJPY is approaching support at 143.24 (100% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 145.35 (50& 38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 1.5% where a corresponding bounce could occur.
