Selling pressure for cable as dollar catches bidGBPUSD H4
Monster rejection H4 candle forming at the moment, around 10 minutes until this H4 candle closes. To see this candle close red would be amazing.
Added another entry point short from 1.21, we traded this really well last week down from 1.22 region, these whole number on cable are playing out incredible, and have done for months.
Fxalerts
USDCAD H4 - Short SetupUSDCAD H4
Here is the break we was expecting in line with USD weakness and continued CAD/WTI strength, as WTI broke that $80/barrel, we saw CAD climb in strength.
Looking for the pullback to the broken support (now resistance price) to offer short entries, in line with a solid confluence stack.
GBPJPY H4 - Long setupGBPJPY H4
Very similar structure here on GBPJPY as we have marked up for GBPUSD, and it's purely based on the hike spike yesterday, followed by a healthy correction, approaching our 151 support.
Assuming this 151 support holds, we can trade initially back up to previous highs of 152.200 and then possibly beyond.
GBPUSD H4 - Long SetupGBPUSD H4
Same again here for GBPUSD as compared to GBPJPY... Looking for a bit of a market correction here on cable before then taking off again.
Heavily influenced by 12:00pm events though, so please be aware and protect positions. Should be another interesting day with aggressive GBP related moves as previously mentioned. 1.33 is clear resistance. So a pivot point in my eyes.
GBPJPY H1 - Corrective MoveGBPJPY H1
This is what we should be looking for on the lower timeframe front, we are simply moving from left to right with a circa 85 pip range, we could measure trades from support to resistance, but ideally not resistance to support, as we are ultimately expecting a bullish break to see out some corrective moves due from last week.
GBPJPY H4 - Short SetupGBPJPY H4
Followed this pair and also GBPUSD perfectly over the last couple of trading weeks, we have played amongst some large data points too, we have BOE up today to be aware of and also NFP figures tomorrow which are certainly going to throw markets around.
Need to be vigilant and protect profits and positions across the board.
NZDUSD H4 - Short SetupNZDUSD H4
Similar setup to AUDUSD (AUDUSD analysis to follow), however a little cleaner in my opinion in terms of technicals and targets, the conflicting factor is the ACTUAL performance of the NZD vs AUD, AUD being the weaker amongst the two.
Need to make sure we are trading south of these trading zones going forward, support has broken but we must ensure resistance holds.
USDJPY H4 - Short SetupUSDJPY H4
Potential short range here down to support here, nice price action close on that previous H4, means we have continued that lower low sequence on that last correction wave.
Eyes peeled on the M30/H1, looks like a structure break and retest for a potential upside move. Higher timeframe takes precedence remember.
GBPJPY H4 - Long Trade SetupGBPJPY H4 - Still in play here, little bit of a correction from that 141.300 price as markets opened yesterday. Sold off down to the closest support zone (140.300).
We have seen an initial bounce from this price and now threatening those previous highs from last week, back on 141.300. A Solid break and retest of this price could signal GBP bulls, but that B&R is very important so we are buying from support.
GBPUSD H4 - Long Trade SetupGBPUSD H4 - Popping up higher and breaking above correction highs, failed to set new lows means GBP pairs are seeing a bit of a SUSTAINED RECOVERY from Mondays selloff, not just a corrective pullback, if we retest and sit on 1.34 support, we could look to scout out longs up to 1.35. Back in trading range, and volatility has settled into this week.
EURUSD H4 - Long SetupEURUSD H4 - Currently pushing a key resistance zone, we have marked and annotated the monthly key level, resistance zone and 1.19 whole number, usually we would look to short this, but DXY is looking weak and we may be ready for an upside break, we have an ascending trend too, with sellers losing strength each time we push 1.189, breakout may be imminent. A break of those confluences and a retest of 1.19 would be good for us for potential buys.
NZDCAD D1 - Long Trade SetupNZDCAD D1 - Daily close yesterday saw the upside breakout, a retest of the newly formed support zone could warrant buying opportunity off the back of todays close. Already starting to see a pullback, we have breakout highs, resistance to support and 0.90 whole number too, so a handful of confluences. RR is also sitting at a huge 1:6.
DXY H4 - Short SetupDXY H4 - This week ended being quite choppy after FOMC and jobless claims data. Broken and retraced back into a big trading zone with threw things a little for me. If we can break support again, we could classify that previous recovery back above into that 92.60 resistance a fake out and data fuelled, something short lived which couldn't hold, expecting support to break again sooner or later and USD weakness to resume.
GBPCAD H1 - Long Trade SetupGBPCAD H1 - Starting to restrict a little here at this resistance zone. As indicated, we ideally need to break and retest this resistance (turn to support), when we find support on the retest, this could be our buy opportunity. Break and retest is imperative, otherwise you'll effectively be buying from resistance. Some other GBP pairs looking like they want to break downside, these pairs will follow shortly.