EUR/USD bulls, as you can see, lost their flavor just ahead of the H4 mid-level resistance at 1.1750 on Thursday, consequently forcing price through a number of key H4 support barriers. Despite disappointing US durable goods orders m/m, the euro fell sharply after Draghi clarified guidance regarding an interest rate hike through summer 2019 at the earliest.
As a...
CADCHF is approaching its resistance at 0.7629 (100% Fibonacci extension, 50% & 78.6% Fibonacci retracement, horizontal swing high resistnace) where it could potentiall reverse down to its support at 0.7526 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 93% where a...
USDCAD is testing its support at 1.3045 (100% Fibonacci extension, 38.2%, 61.8% & 78.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce up to its resistance at 1.3193 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) has bounced off its support at 3.2% where a corresponding rise could occur.
AUDJPY is approaching support at 81.91 (61.8% Fibonacci extension, 61.8% Fibonacci retracement x2, horizontal overlap support) where price could bounce to its resistance at 82.85 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is testing its support at 2.3% where a corresponding bounce could occur.
NZDUSD is approaching support at 0.6770 (61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizotnal swing low support) where a bounce to its resistance at 0.6823 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) could occur.
Stochastic (55, 5, 3) is testing its support at 3% where a corresponding bounce could occur.
USDCHF is approaching its support at 0.9902 (100% & 61.8% Fibonacci extension, 61.8% & 76.4% Fibonacci retracement, horizontal overlap support) where we price could rise to its resistance at 0.9977 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 2.8% where a corresponding...
EURGBP is testing its support at 0.8881 (100% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal overlap support) where price could rise to its resistance at 0.8955 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (55, 5, 3) has reversed off its support at 3.5% where a corresponding rise could occur.
EURUSD is approaching its resistance at 1.1743 (61.8% Fibonacci extension, 76.4% Fiboancci retracement, horizontal swing high resistance) where price could reverse off and move towards its support at 1.1661 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching resistance at 96% where a reversal might occur.
USD/CAD, as you can see, came under pressure on Wednesday, influenced by the recent Trump/Juncker meeting and robust oil prices. Following an extension off the previous day’s high 1.3191, H4 price destroyed support at 1.3116 as well as the 1.31 handle, and is now attempting a break of July’s opening level positioned at 1.3045. The other key thing to note on the H4...
Early hours on Wednesday witnessed a sharp drop take shape in the Aussie market following a miss on Australian CPI figures, bringing the currency to lows of 0.7392. The market, however, made a swift U-turn here after H4 price failed to sustain losses sub 0.74. Shortly after, US President Trump and EU’s Juncker published a joint statement stating the two sides have...
Price is approaching our first support at 1.3064 (horizontal overlap support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) and might potentially rise up to our major resistance at 1.3266 (horizontal overlap resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also approaching support and we might see a...
Price is approaching our first resistance at 0.6379 (horizontal swing high resistance, 61.8% Fibonacci extension, short term descending resistance line) might potentially drop to our major support at 0.6767 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price...
Price is approaching our first resistance at 1.3160 (horizontal pullback resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension, short term descending resistance line) and might potentially drop to our major support at 1.2987 (horizontal swing low support, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see...
XAUUSD is approaching our first resistance at 1237.74 (horizontal pullback resistance, 50% Fibonacci retracement) and price might potentially drop to our major support at 1218.37 (horizontal swing low support, 76.4% Fibonacci retracement)
Stochastic (34,5,3) is also approaching resistance and we might see a potential drop in price should it react off this level.
The Australian dollar, as you can see, outperformed on Tuesday, regaining 0.74 status as the USD softened across the board. H4 price is now seen eyeing resistance at 0.7443, a level that’s provided the market a ceiling on a number of occasions in recent history (see pink arrows). Another interesting point on this timeframe is the potential AB=CD formation (black...
EURJPY is approaching its support at 129.60 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where a bounce could occur, causing price to rise to its resistance at 131.12 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 2.5% where a corresponding bounce could occur.
EURUSD has reversed off its resistance at 1.1745 (61.8% Fibonacci extension, 76.4% Fiboancci retracement, horizontal swing high resistance) where price could pullback to before making a further move down to its support at 1.1644 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) has reversed off its...
GBPUSD has reversed off its resistance at 1.3156 (100% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially fall to its support at 1.3002 (76.4% Fibonacci retracement).
Stochastic (55, 5, 3) has being held down by a descending resistance line where a corresponding drop could occur.
