EURJPY TRADE REVIEW AND ANALYSISIn this video, i went over the main reason i entered a short on EURJPY and my technical process and target. I also go over what i will be looking out for on the pair and also on GBPUSD
Currencytrading
Currency State Of Play - Midweek Portfolio Selection**Sorry about the sound**
Today, I'm looking at the Major Indices to determine the current state of play of the currency market and what we should expect for the remainder of the trading week.
The current 4HR wave structure analysis of the Indices is as follows:
DXY: +ve
EXY: Neutral
AXY: Neutral
SXY: +ve
JXY: +ve
BXY: -ve
CXY: -ve
ZXY: -ve
BUY PAIRS: No High probability Pairings based on the Indices
SELL PAIRS: GBPUSD, GBPJPY, CADJPY, NZDUSD,NZDJPY, CADCHF,GBPCHF
EURUSD: Thoughts and Analysis Today's focus: EURUSD
Pattern – Continuation (Bullish)
Support – 1.0794
Resistance – 1.0855, 1.0896
Hi, traders; thanks for tuning in for today's update. Today, we are looking at the EURUSD on the daily chart.
Will we see the EURUSD set off on a new continuation higher? Bulls have broken the downtrend and formed a higher low. We have a trigger bar, but we still need to see confirmation with a break of resistance.
The USD also plays a part in this story, and we have some news that could aid and hurt the EURUSD picture this week.
Good trading.
USDJPY: Thoughts and Analysis Today's focus: USDJPY
Pattern – HL Continuation
Support – 149 - 149.15
Resistance – 151.80 - 149.65
Hi, and thanks for checking out today's update. Today, we are looking at USDJPY on the daily chart.
Today's video asks if USDJPY has further to fall or if we will see buyers continue to find some support from 149- 149.15. For now, price continues to trade below the last fast trend, but we haven't seen a new move back to the next trendline.
Traders will watch this week's FOMC meeting minutes to see if it continues to guide the USD lower as previous data and Fed comments have done.
Good trading.
AUDJPY: Thoughts and Analysis Today's focus: AUDJPY
Pattern – HL Continuation
Support – 96.10
Resistance – 97.52
Hi, and thanks for checking out today's update. Today, we are looking at the AUDJPY on the daily chart.
Today's video asks if the AUDJPY will continue its continuation pattern. We have run over the price action that drew us to this setup and what we want to see to give us confirmation. We have also run over warnings from price that could invalidate the setup.
If we see buyer confirmation, we will then look for a test or break of 97.52 resistance. This could suggest that the current upleg is becoming a new short-term trend.
Good trading.
Can The Dollar Push Higher? Hey traders, welcome back.
The dollar is increasing heavily to the upside as I make this video.
Now we don't know how price will close but it is important to watch how she closes today.
If price continues this could affect the major currency pair market in a mighty way.
All Base dollar pairs could continue to increase while Quote dollar pairs could continue to decrease.
It's a patience game right now, but may be one to play if you have the right hand.
USDJPY: Thoughts and Analysis Today's focus: USDJPY
Pattern – Ascending Triangle Break (BoJ Intervention?)
Support – 149.28 - 148.43
Resistance – 149.90 - 150.16
Hi, and thanks for checking out today's update. Today, we are looking at the USDJPY on the daily chart.
Speculation continues as to whether we will see intervention from the BoJ as the USDJPY continues to trade above 150. Currently, the breakout of an ascending triangle pattern yesterday continues to confirm today as buyers continue the run above 149.90 resistance and 150.
Pricewise, things look firm on the buyer side, but will we see any surprises today with BoJ intervention? Last time price was above 150, we saw a 1.75% decline. Could another round be on the cards if prices contnue to push higher?
Good trading.
AUDUSD: Thoughts and AnalysisToday's focus: AUDUSD
Pattern – Support hold
Support – .6285
Resistance – .6425
Hi, and thanks for checking out today's update. Today, we are looking at the AUDUSD on the daily chart. Currently, we are watching price from 6285 support; if this level can hold and the USD continues to push lower, we will look for further upside from the AUDUSD. If buyers can get a mini run going, we see 6425 as the first resistance.
If sellers can break today's rally and move below support, this could set up a new leg lower that could test lower 6200 areas if seller momentum can get going.
Let's see if buyers can continue to hold 6285 support.
Good trading.
GBPAUD: Thoughts and AnalysisToday's focus: GBPAUD
Pattern – LH Trend continuation
Support – 1.8935
Resistance – 1.9185
Hi, and thanks for checking out today's analysis. The GBPAUD daily is today's focus. What has our attention is the possible continuation that's setting up. This looks to be a bearish continuation at this point, but we want to see price hit a new lower low for the week to show seller strength. The moving average is sloping down, and the RSI trading below 50 supports sellers, but we still need to see price confirm the move.
If buyers can close the above 1.9185, this starts to cancel out this short idea. If sellers can get the move going, we will look to 1.8951 as a potential key resistance area (buyer support).
Good trading.
GBPUSD: Analysis and ThoughtsToday's focus: GBPUSD
Pattern – LH low test
Support – 1.2456
Resistance – 1.2510
Thanks for checking out today’s update. Today, we have run over the GBPUSD, breaking down the overall price picture and levels and incorporating moving average and RSI into the analysis.
The GBPUSD continues to push lower after yesterday’s session. Price created a new LH and has moved back down to a minor level of support and started to test that area today. Sellers could be looking at a new leg lower if they can clear that area with a firm close lower. The RSI has moved lower and remains below the 50 point. The moving average also backs up seller momentum with its current slope.
If buyers can reject a push lower with a failed low, that’s a worry for seller strength. To show sellers are in control, we would like to see a new firm low and further selling, possibly testing 1.2365.
Have a great day and good trading.
EURJPY: Thoughts and AnalysisToday's focus: EURJPY
Pattern – Range support test post LH trend break.
Support – 157.05 – 155.85
Resistance – 158.40 – 159.40 (area)
Thanks for checking out today’s update. Today, we have run over the EURJPY, breaking down the overall price picture and levels we are watching.
The JPY has started the week on a strong note with solid gains so far to the EUR, GBP and USD. The GBPJPY is also showing similar signs to the EURJPY, but we zoned in as there have been a few price signals in a row that could be backing up a new move by sellers.
Sellers continue to test the range bottom after breaking the fast trend and setting up a new lower high around 158.40 resistance. From here, if sellers are going to try a new run, we would like to see a decent to strong close lower that beats the range and 157.05 support base. Then, we will look for a new move lower that could test 155.85 or below.
If price can fight back and close back above 157.05, this could be a sign that seller strength might not be that strong.
Have a great day and good trading.
Eightcap: USDCAD Analysis Today's focus: USDCAD
Pattern – Support hold, retracement
Support – 1.3517
Resistance – 1.3597, 1.3640
• USDCAD price sits at a junction.
• USDCAD failed at its latest key resistance test.
Hi, and thanks for checking out our latest market update. Today, we have run over the USDCAD on the daily chart and discussed oil and the USD index, as well as upcoming news that could influence the current picture.
Price could be seen in a small squeeze at the moment. Will we see short-term support hold and potentially feed a new shot at key resistance? Or do we see support break and price make a new move back towards the main trendline?
Data to watch today: US unemployment claims and core PCE price index. Tomorrow, US employment data.
Have a great day and good trading.
Double bottom necklineAt a daily timeframe there is double bottom neckline pattern.
if the neckline breaks, the bull in the market will get stronger.
The daily and weekly support looks strong.
Disclaimer : The CMP is at the monthly strong resistance so trade with tight SL.
AUDUSD will buyer momentum continue?Today's focus: AUDUSD
Pattern – HL
Possible targets – 68.11 – 68.85
Support – 67.17
Resistance – 67.75
Could we see further upside from the AUDUSD? Currently price is bouncing off short-term support. This could continue if some of this week's key news goes in favour of risk markets. The USD has had a solid run recently but could any hints at future rant holds set off a new pullback? If so this could be fuel for the AUD to continue its push.
Australian CPI is also due out on Thursday, its forecast to come in slightly lower Could a miss also help drive buying?
For now, we will continue to watch price as it holds off short-term support with a new HL and see if it can continue to push higher reclaiming some of last week's lost ground.
Have a great day and good trading.
2023.7.14 USD has fallen below the 100 integer mark2023.7.14 USD has fallen below the 100 integer mark
Hello, I'm Older Duan. Today is Friday, July 14th 2023.
Now it's 17pm Beijing time.
Let me give you a quick comment on the technical forms of the current international mainstream varieties!
First, what we see is the daily graph of the dollar index.
As shown in the figure, the U.S. Dollar Index has fallen below the 100.00 integer level, coming near the daily level of 610MA!
Now, let's look at gold.
Now you can see the daily chart of gold.
The figure superimposes the combination of gold's recent bottom-up golden section and Fibonacci parameter mean square!
As shown in the figure, gold has been trading at the bottom against the 2.000 level of the gold split in the past two trading days, and it is also the highest point on February 2, 2023 ($1959.69), engaging in long short competition! Then, we can continue to use this position as an important Bitwise operation in the day later today! Above this position, bulls dominate; Below this position, bears dominate!
Let's take a look at American crude oil.
What you are now seeing is daily level candle chart of US crude oil. The graph superimposes the recent bottom-up golden section of US crude oil and the Fibonacci parameter mean square combination!
As shown in the figure, US crude oil yesterday broke through the bottom of the bullish 1.618 and daily level 233MA, and today's low hit the daily level 233MA ($76.35)! Then, in the following time today, just use this position as an important point in the day for Bitwise operation! Above this point, bulls dominate; Below this point, bears dominate!
Let's look at EURUSD.
What you can see now is the daily chart of EURUSD.
The figure superimposes the combination of European and American currencies against the recent bottom of the golden section and Fibonacci parameter mean square!
As shown in the figure, the euro rose sharply against the US dollar again yesterday, with the next strong pressure at 1.12800! Then, in the future, we can use today's opening price (1.12228) as the Bitwise operation of the day's important point! Above this position, bulls dominate; Under this position, bears dominate!
Finally, let's take a look at GBPUSD.
Now you can see the daily chart of GBPUSD.
The figure superimposes the combination of the recent bottom of the GBPUSD against the golden section and the Fibonacci parameter mean square!
As shown in the figure, the pound has reached a strong pressure level against the US dollar: the bottom is at 2.382 (around 1.31300) above the golden section! Then this position will be used as the Bitwise operation operation of the important point in the day in the future! Above this position, bulls dominate; Under this position, bears dominate!
Well, the above is a quick inventory of the technical forms of the international mainstream varieties in today's European period!
Special reminder, Today is Friday, and all important data for this week has been released. The weekly line will close tonight, and it is likely that there will be a pullback trend. Please pay attention to the risks!
Im Older Duan. Wish you happy win . Goodbye!
2023.7.11 GBPUSD accelerates its rise2023.7.11 GBPUSD accelerates its rise
USD continues to be weak, the pound accelerates its rise, and US crude oil fluctuates slightly!
Hello, I'm Older Duan. Today is Tuesday, July 11th 2023.
Now it's 17pm Beijing time.
Let me give you a quick comment on the technical forms of the current international mainstream varieties!
First, what we see is the daily graph of the dollar index.
As shown in the figure, the U.S. Dollar Index shows a continuous release of short momentum, with the strongest support at the opening price of 101.43 on May 11, 2023!
Now, let's look at gold.
Now you can see the daily chart of gold.
The figure superimposes the combination of gold's recent bottom-up golden section and Fibonacci parameter mean square!
As shown in the figure, gold reached its peak today at daily level 144MA (1939.21 US dollars)! Then, in the following time today, just use this position as an important point in the day for Bitwise operation! Above this position, bulls dominate; Below this position, bears dominate!
Let's take a look at American crude oil.
What you are now seeing is daily level candle chart of US crude oil. The graph superimposes the recent bottom-up golden section of US crude oil and the Fibonacci parameter mean square combination!
As shown in the figure, US crude oil competed between long and short positions at last month's bearish starting point, which was the opening price of June 5, 2023 ($73.41)! Then, in the following time today, just use this position as an important point in the day for Bitwise operation! Above this point, bulls dominate; Below this point, bears dominate!
Let's look at EURUSD.
What you can see now is the daily chart of EURUSD.
The figure superimposes the combination of European and American currencies against the recent bottom of the golden section and Fibonacci parameter mean square!
As shown in the figure, the euro has reached its highest point against the US dollar last month, and it is also at the bottom of the 2.618 level (1.10115) on the gold split! Then this position will be used as the Bitwise operation operation of the important point in the day in the future! Above this position, bulls dominate; Under this position, bears dominate!
Finally, let's take a look at GBPUSD.
Now you can see the daily chart of GBPUSD.
The figure superimposes the combination of the recent bottom of the GBPUSD against the golden section and the Fibonacci parameter mean square!
As shown in the figure, after the pound hit the daily level of 21MA against the US dollar yesterday, the daily closing line showed a long downward shadow and a small positive line. Today, it rose and fell back, which is the beginning signal of the standard high contraction triangle consolidation! Then in the future, we can take today's opening price (1.28633) as an important Bitwise operation in the day! Above this position, bulls dominate; Under this position, bears dominate!
Well, the above is a quick inventory of the technical forms of the international mainstream varieties in today's European period!
Special reminder, Today is Tuesday, and the impact of last Friday's big non agricultural data market has disappeared. The expected market trend of tomorrow's CPI data market has started to affect, please pay attention to the risks!
Im Older Duan. Wish you happy win . Goodbye!
2023.7.7 USD is falling, gold is weak !2023.7.7 USD is falling, gold is bearish and weak, and US crude oil is in a deep V shape!
Hello, I'm Older Duan. Today is Friday, July 7th 2023.
Now it's 17pm Beijing time.
Let me give you a quick comment on the technical forms of the current international mainstream varieties!
First, what we see is the daily graph of the dollar index.
As shown in the figure, the U.S. Dollar Index rose and fell yesterday, returning to the daily line near 144MA, but its upside space has been opened!
Now, let's look at gold.
Now you can see the daily chart of gold.
The figure superimposes the combination of gold's recent bottom-up golden section and Fibonacci parameter mean square!
As shown in the figure, gold has been falling down for two consecutive days, but yesterday's daily closing line showed long up and down shadows, indicating intense competition between long and short positions! Then, the opening price of this month ($1919.4) will be taken as the Bitwise operation of the day later today! Above this position, bulls dominate; Below this position, bears dominate!
Let's take a look at American crude oil.
What you are now seeing is daily level candle chart of US crude oil. The graph superimposes the recent bottom-up golden section of US crude oil and the Fibonacci parameter mean square combination!
As shown in the figure, US crude oil showed a deep V reversal pattern yesterday, with a likely slow upward oscillation rate! Then, in the following time today, we can take today's opening price ($71.79) as the important Bitwise operation of the day! Above this point, bulls dominate; Below this point, bears dominate!
Let's look at EURUSD.
What you can see now is the daily chart of EURUSD.
The figure superimposes the combination of European and American currencies against the recent bottom of the golden section and Fibonacci parameter mean square!
As shown in the figure, yesterday's daily positive line of the euro against the US dollar completely engulfed the previous day's negative line! Then in the future, the daily line 21MA (1.09043) will be taken as an important Bitwise operation in the day! Above this position, bulls dominate; Under this position, bears dominate!
Finally, let's take a look at GBPUSD.
Now you can see the daily chart of GBPUSD.
The figure superimposes the combination of the recent bottom of the GBPUSD against the golden section and the Fibonacci parameter mean square!
As shown in the figure, the pound against the US dollar is accelerating its rise as previously predicted! Then in the future, we can use today's opening price (1.27410) as the Bitwise operation of the day! Above this position, bulls dominate; Under this position, bears dominate!
Well, the above is a quick inventory of the technical forms of the international mainstream varieties in today's European period!
Special reminder, Today is July 7th (Friday). There is a big non Farm Employment Change data market tonight! Please pay attention to the risks!
Im Older Duan. Wish you happy win . Goodbye!
2023.6.30 Daily European Perspective USDX broke up again !2023.6.30 Daily European Perspective
USDX broke up again !
USD continues to strengthen, with non US currencies and precious metals stepping back on key support, and USoil bulls feeling weak!
Hello, I'm Older Duan. Today is Friday, June 30 2023.
Now it's 16pm Beijing time.
Let me give you a quick comment on the technical forms of the current international mainstream varieties!
First, what we see is the daily graph of the dollar index.
As shown in the figure, the U.S. Dollar Index broke up again yesterday, back above the daily 21MA and 144MA, and hit the daily 165MA!
Now, let's look at gold.
Now you can see the daily chart of gold.
The figure superimposes the combination of gold's recent bottom-up golden section and Fibonacci parameter mean square!
As shown in the figure, the lowest point of gold yesterday hit the 1.618 level (around $1890) above the bottom of the gold split! Then, in the following days today, we will continue to use the integer gate of $1900 as an important Bitwise operation operation! Above this position, bulls dominate; Below this position, bears dominate!
Let's take a look at American crude oil.
What you are now seeing is daily level candle chart of US crude oil. The graph superimposes the recent bottom-up golden section of US crude oil and the Fibonacci parameter mean square combination!
As shown in the figure, the daily pattern of US crude oil in the past three trading days has shown a state of continuous bullish accumulation, ready to exert upward force! Then, in the future, we will continue to use the integer pass of $70 as the important Bitwise operation operation in the day! Above this point, bulls dominate; Below this point, bears dominate!
Let's look at EURUSD.
What you can see now is the daily chart of EURUSD.
The figure superimposes the combination of European and American currencies against the recent bottom of the golden section and Fibonacci parameter mean square!
As shown in the figure, the euro/US dollar hit its daily low of 21MA yesterday and today, rebounding upwards at any time! Then in the future, the daily line 21MA (1.08600) will be used as the Bitwise operation of the important point in the day! Above this position, bulls dominate; Under this position, bears dominate!
Finally, let's take a look at GBPUSD.
Now you can see the daily chart of GBPUSD.
The figure superimposes the combination of the recent bottom of the GBPUSD against the golden section and the Fibonacci parameter mean square!
As shown in the figure, the pound US currency has been vying for long and short positions near the daily line 21MA in the past three trading days! Then in the future, the daily line level of 21MA (1.26600) will be taken as the Bitwise operation of the important point in the day! Above this position, bulls dominate; Under this position, bears dominate!
Well, the above is a quick inventory of the technical forms of the international mainstream varieties in today's European period!
Special reminder, today is Friday. As it is the last trading day of June, the weekly, monthly, quarterly, and first half year lines of 2023 will be closed tonight! Please pay attention to the risks!
Im Older Duan. Wish you happy win . Goodbye!
2023.6.29 Daily European Perspective 2023.6.29 Daily European Perspective
Gold is clearly accelerating its decline and is about to test the integer level of $1900!
Hello, I'm Older Duan. Today is Thursday, June 29 2023.
Now it's 16pm Beijing time.
Let me give you a quick comment on the technical forms of the current international mainstream varieties!
First, what we see is the daily graph of the dollar index.
As shown in the figure, the U.S. Dollar Index broke above the daily line of 55MA yesterday and hit 21MA and 144MA!
Now, let's look at gold.
Now you can see the daily chart of gold.
The figure superimposes the combination of gold's recent bottom-up golden section and Fibonacci parameter mean square!
As shown in the figure, gold is clearly accelerating its decline and is about to test the integer level of $1900! Then, in the following days today, we can use the integer gate of 1900 dollars as the important Bitwise operation of the day! Above this position, bulls dominate; Below this position, bears dominate!
Let's take a look at American crude oil.
What you are now seeing is daily level candle chart of US crude oil. The graph superimposes the recent bottom-up golden section of US crude oil and the Fibonacci parameter mean square combination!
As shown in the figure, US crude oil recovered its previous day's decline yesterday, but is still below the integer level of $70! Then, in the following time today, we can take the integer pass of $70 as the important Bitwise operation operation in the day! Above this point, bulls dominate; Below this point, bears dominate!
Let's look at EURUSD.
What you can see now is the daily chart of EURUSD.
The figure superimposes the combination of European and American currencies against the recent bottom of the golden section and Fibonacci parameter mean square!
As shown in the figure, yesterday's decline of the euro against the US dollar gave up the previous day's gains, and today's lowest point hit the daily bottom of the gold split at 2.382! Then, in the future period of this day, take today's opening price (1.09144) as the important Bitwise operation of the day! Above this position, bulls dominate; Under this position, bears dominate!
Finally, let's take a look at GBPUSD.
Now you can see the daily chart of GBPUSD.
The figure superimposes the combination of the recent bottom of the GBPUSD against the golden section and the Fibonacci parameter mean square!
As shown in the figure, the pound US currency fell below the daily limit yesterday, reaching below the 2.000 level of the gold split at the bottom of the daily level, and broke through the daily level of 21MA! Then in the future, the daily line level of 21MA (1.26510) will be taken as the Bitwise operation of the important point in the day! Above this position, bulls dominate; Under this position, bears dominate!
Well, the above is a quick inventory of the technical forms of the international mainstream varieties in today's European period!
Special reminder,Today is Thursday, as this week is the last trading week of June, the monthly line for this month will be closed by the end of this week! Please pay attention to the risks!
Im Older Duan. Wish you happy win . Goodbye!
GBPUSD: Could the FOMC set up a resistance break?Today's focus: GBPUSD
Pattern – HH HL continuation
Possible targets – 1.2683, 1.2980
Support – 1.2305, 1.2493
Resistance – 1.2640, 1.2660
Today’s focus is on the GBPUSD after buyers made another strong move higher on Wednesday. That move continues the series of HLs and HHs this is a good thing to see in the current short-term uptrend. As discussed in today’s video, our attention is now on key resistance that has stood since May 22.
Could a dovish tone from the Fed set the USD up for more downside? We did see a fightback after the CPI data and the Core remained high at 0.4%. If the Fed hold rates and hint more towards the dovish side in the statement, could that set the GBPUSD up for a new test or break of resistance, setting off a new trend continuation?
For now, the GBPUSD, despite its short-term bullish move, remains consolidation bound.
Will JPY momentum carry forward and set off further selling?Today's focus: JPY AUDJPY GBPJPY
Pattern – Fade Resistance holds
Possible targets – AUDJPY 92.50/92.30 GBPJPY 173.39/172.95
Support – AUDJPY 92.30 GBPJPY 173.15
Resistance – AUDJPY 93.30 GBPJPY 174.20
Today’s update focuses on JPY strength, that we have seen picking up since yesterday’s US session. We have looked at the AUDJPY and GBPJPY in detail. Are we seeing a turn in momentum? Both of these markets showed strength in the short term or sit in uptrends.
After seeing the fades yesterday and today combined with resistance, could this be of sellers gaining control?
Thanks for stopping by. Good trading, and have a great day.
USD buyers ready to test resistance again?Today's focus: USD Index
Pattern – Continuation
Possible targets – 105.60
Support – 103.40
Resistance – 104.20
Today’s update is on the USD index. Do we have a new uptrend? For us, we want to see resistance beaten. If we can see a break, this could set up a new move to 105.60 and a break of that level take price out of its consolidation range and gets an uptrend going. For now, we have a short-term up trend, but buyers have more work to do to confirm it overall.
If we see a new retracement, we want to see support hold. A move back to 102.70 is a worry if you’re on the short-term bull side. With momentum back in the buyer’s court, will we see a break of resistance?
Thanks for stopping by. Good trading, and have a great day.
