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GBP/AUD Descending Triangle: Moving Up for the Fifth TimeGBP/AUD pair has formed a descending triangle pattern. In this pattern, the price is bouncing between a consistent 1.9610 support level and a declining resistance line. The support 1.9610 remains same, while the resistance is getting lower, showing that sellers are getting stronger. Currently, the price is moving within this triangle, testing the support multiple times while facing resistance at the lower highs. The price recently broke out from a smaller downward movement within this pattern and is approaching the triangle resistance for the fifth time.
Long
by FXTradingAnalysis
AUDUSDThe head of the Reserve Bank of Australia (RBA) is Michele Bullock, who has been serving as Governor since September 18, 2023. She is the first female Governor of the RBA and plays a crucial role in setting monetary policy for Australia. As Governor, Michele Bullock chairs both the Reserve Bank Board and the Payments System Board, overseeing key decisions on interest rates and financial stability. Her tenure has seen significant economic challenges, including managing inflation pressures while supporting economic growth. The Upcoming AUD/USD Fundamental Data Prints and Their Impact on Trade Directional Bias. Several key economic indicators are set to influence the AUD/USD currency pair in the coming period. These include: 1. Reserve Bank of Australia (RBA) Interest Rate Decisions Impact: The RBA is expected to cut interest rates, which could weaken the Australian dollar against the U.S. dollar if not already priced into markets. Bias: A rate cut might initially lead to a sell bias for AUD/USD, but if it aligns with market expectations, its impact could be muted. 2. Australian Economic Indicators Inflation Data (CPI): Higher inflation figures can lead to expectations of less aggressive rate cuts by the RBA. Impact: Stronger inflation data might support a buy bias for AUD/USD. Employment Figures: Positive employment data can indicate economic resilience. Impact: This could support a buy bias for AUD/USD. 3. U.S. Economic Indicators Building Permits and Housing Starts: Stronger-than-expected figures can boost USD strength. Impact: This might apply downward pressure on AUD/USD, leading to a sell bias. 4. Global Trade Tensions The ongoing situation with tariffs under Donald Trump's administration may indirectly affect Australia through its trade relations with China. Current Market Sentiment The recent rally in AUD/USD has been supported by a weaker USD and positive technical signals However, overbought conditions suggest potential corrections or reversals if key resistance levels are not breached convincingly Potential Trade Scenarios: Buy Bias:If Australian economic indicators show resilience (e.g., strong CPI or employment data), and global trade tensions ease further reducing risks for Australia’s economy. Technical breaches above key resistance levels like on monthly timeframe , the RSI divergent giving me a break of supply roof ,if we close the month on break of structure and its confirmed as a break of structure scenario ,it might return on retest as demand floor and reject to test the long term descending trendline connecting 2012 to 2024 Sell Bias: If U.S. economic indicators surprise positively (e.g., strong housing starts), supporting USD strength against other currencies including AUD. A confirmed break below demand floor would likely reinforce this scenario.
by Shavyfxhub
EUR/USD Daily Chart Analysis For Week of Feb 21, 2025Technical Analysis and Outlook: This week, the Euro reapproached our designated Mean Resistance level of 1.050 and reversed its upward momentum. This trend indicates a continuation of the downward price movement, establishing a new support level marked at 1.042. Further declines may materialize, with potential targets including Mean Support at 1.030, a weaker Key Support at 1.024, the completed Outer Currency Dip at 1.020, and the outermost target Outer Currency Dip at 1.005. Contrariwise, should the anticipated downward correction not transpire, the Eurodollar may experience an upward rally, possibly revisiting the Mean Resistance level of 1.050 and subsequently engaging with the Inner Currency Rally target of 1.060.
by TradeSelecter
EURCAD is heading towards the 1.4684 support levelThe EURCAD pair has resumed its short-term decline after reaching a 3-month high at 1.5173. Economic tensions between Donald Trump's United States and Canada play a significant role in strengthening the Canadian currency, which had been depreciating against major currencies for several months. The postponement of the U.S. threats to increase tariffs by 25% has been a great help, but for how long? From a technical perspective, the pair has just broken below a trendline on daily timeframes, reinforcing the bearish momentum. As long as 1.4684 has not been reached, selling on bullish corrections should be prioritized. Buying should only be considered if prices bounce off the support level.
Short
by Traderscope
CADCHF is at a resistance level and could undergo a correctionThe CADCHF pair has initiated a strong upward move following news about economic tensions between the United States and Canada. Prices are now reaching a major resistance zone between 0.6366 and 0.6407, suggesting a potential short-term correction. The 0.6300 level remains a reasonable target in this setup, although confirmation is still needed before taking a short position on this asset. The 0.6270 level, which corresponds to the 0.618 Fibonacci retracement, also represents an interesting profit-taking area.
Short
by Traderscope
EURJPY - The 0.618 Fibonacci zone acting as resistanceThe EURJPY pair is one of the most interesting assets to watch. Overall, the long-term trend has shifted from strongly bullish to neutral since the highs of July 2024. However, we can observe that each successive bullish rebound is reaching lower highs. With the ECB lowering interest rates and the recent rate hikes by the Bank of Japan, a rebalancing is gradually taking place. As a result, at best, we can expect a range-bound movement between 156.00 and 164.00 in the coming weeks, and at worst, a sustained decline in the exchange rate in favor of the yen. Holding yen long-term is not attractive from a swap perspective, but in the short term, attempting bearish rebounds is more interesting. Here, I initiated a short trade, betting on a continuation of the downtrend after the pair rebounded from the 0.618 Fibonacci retracement zone. Historically, this level is significant and acts as resistance when trends establish themselves.
Short
by Traderscope
USDZAR-NEUTRAL BUY strategy 3 hourly chartThe regression channel has ample room either way, and we are close to support level 18.3000 and a break below suggest 18.1100 direction. The overall view is still a chance for higher levels, but 18.4675 needs to be challenged to see 18.5850 again. For the reasons stated am NEUTRAL with buying bias. I wish to add we are completing also (b) wave and it seems not clear as yet on its completion. Strategy BUY 18.3150 - 18.3450 and take profit @ 18.5350 (but watch if we break the resistances mentioned). I never state SL levels, as this is individual decision, and of course we are in need of a proper risk management and leverage strategy to ensure we become or remain profitable.
by peterbokma
1
EURAUD POSSIBLE BUY?The market is currently testing the current Daily area. Based on 4HR TF, the market seems to be forming a possible reversal pattern which could lead to a possible reversal. We could see BUYERS coming in strong should the current level hold. Disclaimer: Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account. High-Risk Warning Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor
Long
by WiLLProsperForex
CADCHF – BOS and bearish continuation .. the week of 24 Feb Weekly – bearish. Daily – bearish after a break of structure (BOS). Price below 200sma. H4 – bearish (visible sequence of lower highs and lower lows). Price has broken below a significant support/resistance area that has been tested multiple times. This break below also occurred with momentum as you can see from the large red candle. I expect a pullback to the zone (marked in green) and if that happens, I will be looking for signs of a bearish continuation. If a short trade does set up, my stop would be placed above the recent swing high and an initial target at 0.62580 with the potential to go down to 0.6200. This is not a trade recommendation, merely my own analysis. Trading carries a high level of risk, so only trade with money you can afford to lose and carefully manage your capital and risk. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!! It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Short
by Trading_Vista
CAD/JPY: Potential Reversal as Buyers Step InCAD/JPY has shown signs of exhaustion in its bearish momentum after completing a deep Bat harmonic pattern. The pair has reached a key Fibonacci extension zone, where price action suggests a possible reversal. Bullish interest is evident with price stabilising near the 105.50 level, supported by oversold conditions on momentum indicators. If buyers sustain pressure, a corrective move towards 106.50 and potentially 107.18 could unfold. Confirmation through a breakout of local resistance would further validate a bullish recovery scenario.
Long
by BeaucoupPips
GBP/USD Market Analysis – Bearish Reversal from Harmonic PatternThe GBP/USD pair has completed a Crab harmonic pattern , with price reaching the 1.618 extension level and reacting strongly at resistance near 1.2617. The rejection suggests a potential bearish reversal. Initial downside targets (T1 and T2) are at 1.2515 and 1.2445. If price sustains below 1.2593 (AB=CD level), further downside is likely. However, a breakout above the high could invalidate the bearish setup. Traders should watch for confirmation signals before taking positions.
Short
by BeaucoupPips
GBPCHF Wave Analysis – 21 February 2025 - GBPCHF reversed from resistance zone - Likely to fall to support level 1.1300 GBPCHF currency pair recently reversed down from the resistance zone between the multi-month resistance level 1.1385 (which has been reversing the price from July) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped impulse wave 5 of the intermediate upward impulse sequence (C) from January. Given the strength of the resistance level 1.1385 and the triple bearish divergence on the daily Stochastic, GBPCHF currency pair can be expected to fall to the next support level 1.1300 (low of the previous minor correction 4).
Short
by FxProGlobal