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Forex Update USD/GBP/AUD/NZD/JPY/CNYHello everyone, as we all know the market action discounts everything. _________________________________Make sure to Like and Follow if you like the idea_________________________________ The dollar rose in Asia on Tuesday morning as fears about the omicron COVID-19 version began to fade. The US Dollar Index, which compares the dollar against a bundle of other currencies, fell 0.9% to 96.245. The GBP/USD exchange rate rose 0.15 % to 1.3284. Support & Resistance points : support Resistance 1) 1.3249 1) 1.3271 2) 1.3237 2) 1.3281 3) 1.3227 3) 1.3293 the AUD/USD pair went up 0.37 % to 0.7075 after the Reserve Bank of Australia maintained its interest rate at 0.10 percent earlier in the day. Support & Resistance points : support Resistance 1) 0.7086 1) 0.7102 2) 0.7076 2) 0.7108 3) 0.7070 3) 0.7118 The NZD/USD exchange rate rose 0.19 % to 0.6763. Support & Resistance points : support Resistance 1) 0.6761 1) 0.6772 2) 0.6755 2) 0.6775 3) 0.6751 3) 0.6782 The USD/JPY exchange rate rose 0.19 % to 113.68. Support & Resistance points : support Resistance 1) 113.62 1) 113.72 2) 113.58 2) 113.78 3) 113.53 3) 113.81 The USD/CNY pair fell 0.07 % to 6.3712. Chinese data released earlier in the day indicated that exports increased by 22% year on year in November, while imports increased by 31.7 % year on year. The trade deficit was $71.72 billion. Support & Resistance points : support Resistance 1) 6.3644 1) 6.3676 2) 6.3633 2) 6.3697 3) 6.3612 3) 6.3708 The Reserve Bank of Australia left rates at a record low but said Omicron was not expected to derail the economy's recovery. "Although there is still a lot of uncertainty over Omicron's health and economic impact, investors have embraced news from South Africa suggesting the exponential rise in Omicron infections has not been followed by a big wave in hospitalizations," NAB strategist Rodrigo Catril told Reuters. Early investigations in South Africa indicate that those infected experience comparatively minimal symptoms as compared to earlier viral waves. Anthony Fauci, the top infectious disease authority in the United States, also stated that it did not appear to be very serious. Meanwhile, pressure on the euro has continued as bets on US interest rates rising far ahead of those in Europe have firmed. The common currency recovered from Monday's losses to trade at $1.1291 on Tuesday. Fed funds futures have priced in more than two full rate rises in the United States next year, beginning in May. Treasury rates climbed slightly on Monday, extending the day's gains over the yield curve. Aside from Omicron, central banks are being scrutinized. The Bank of Canada meets on Wednesday, and markets anticipate that it will set the stage for rate hikes next year. The Federal Reserve, the Bank of England, the European Central Bank, and the Bank of Japan will all meet next week. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
by GabiDahduh
2
EURNOK seeking to 3 out of 3 🎯💪Our RSI reversal strategy has enter a long trade running on EURNOK overnight. This is a new strategy script we are trialling at the moment based on reversal trading using RSI as a one of the main contributing confluences. New trade details are shown on the chart and we are working the 15M time frame. Take profit is the green line. Pink line is stop loss. Trade history can be seen below this trade idea too for full transparency. Last trade was shared as an idea only yesterday before a new long presented overnight. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
Long
by pow_removetheguesswork
GBPUSD Buy Stop at 1.30630GBPUSD Buy Stop at 1.30630 SL 1.30036 TP 1.31519 (Please consider the spread of broker for Entry price, TP & SL ) RR 1.50 // DISCLAIMER This explanation is only my personal opinion only. Trading financial markets involves risk, and is not suitable for all investors. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action, and any trades you decide to take are your own
Long
by Forex_Price_Action_Traders
GBP/CAD 🇬🇧🇨🇦 to bounce from the Support zone!GBP/CAD 🇬🇧🇨🇦 is pulling back from the Resistance line. The price is about to rise according to RSI oversold zone , however looking at the Ichimoku we see that both the Base and Conversion lines lie above the price being slightly pointed downward , suggesting that the price will continue falling. However as there we see the Support zone from with I expect the reteset of the Uptrend! If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section!
Short
by Alexander_Harford
8
USDCAD ON GREAT RESISTANCE ZONE-SHORT TRADE SET UP COMING UP!Hello traders let' s see a very profitable and high propability short trade on USDCAD! Let's see why a short trade is possible at these levels. TECHNICAL OBSERVATIONS 1.Price after that relief rally to the upside is showing bearish behaviour with this inverted hammer which was created today. 2.Price is at critical level as at that same level we have the neck line of the Head and Shoulders pattern created and if zoom out this level is a very strong support/resistance level at the weekly and monthly chart. 3.If we drag the Fibonacci retracement we can see that the resistance area is coincides perfectly with the important 50% and 61.8% Fibonacci levels. 4.Buying volume is reducing as we are reaching this important level. 5.Longer term trend is bearish. 6.RSI indicator is near to neutral level despite the strong move up which shows lack of momentum. POSSIBLE TRADE ENTRY AT 1.2840 BUY STOP AT 1.29050 TARGET 1 AT 1.26650 TARGET 2 AT 1.25300 THANKS FOR SUPPORT! KEEP FOLLOWING FOR MORE PROFITS!! DON'T HESITATE TO LEAVE A COMMENT OR A QUESTION YOU MIGHT HAVE!!
Short
by The_Greek_Trader
EURAUD is testing its resistance, potential for a drop!EURAUD testing its resistance at 1.6036 (100% Fibonacci extension, swing high resistance, Elliot wave structure) where a reaction could happen causing price to fall to its 1st support at 1.5876 (38.2% Fibonacci retracement, horizontal swing low support). If it breaks past this level it could fall to its 2nd support at 1.5816 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support). We have also identified another resistance at 1.6115 (61.8% Fibonacci extension). Stochastic (34, 5, 3) is approaching its resistance at 95.7% where a corresponding reaction could occur.
Short
by ICmarkets
1