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Could the Aussie reverse from here?The price is rising towards the pivot and could drop to the 1st support.
Pivot: 0.6598
1st Support: 0.6548
1st Resistance: 0.6628
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USDCAD long trade setup for this week📈 USDCAD Long Setup Idea – Weekly Play 💯
Here’s a clean bullish setup on USDCAD (2H timeframe) I’m eyeing for this week:
🔹 Key Zones:
- Demand Zone: Strong reaction from the 1.35500–1.36000 area, with price respecting this grey support block multiple times.
- Supply Flip: Previous structure zone turned potential demand.
🔹 Entry:
- Long position placed after liquidity grab and bullish rejection within the demand zone.
- Market structure is beginning to shift bullish after consecutive lower highs and lows broke.
🔹 Risk Management:
- SL below the demand zone at ~1.35512
- TP set near previous high around 1.37960 (resistance zone)
🔹 RRR (Risk to Reward Ratio):
- Solid risk/reward potential on this play – targeting a 3R move if momentum holds.
🔹 Trade Bias:
- Looking for a deeper retracement continuation up, aligning with possible DXY pullback.
- Watching for confirmations like bullish engulfing or structure break for entry trigger.
📊 Stay patient, follow price action, and manage risk properly.
USDCHF Analysis – "Dollar Trying to Break Free from Downtrend"USDCHF is breaking out from a multi-week descending channel.
Structure shows a potential trend reversal from the June 12th low.
First bullish leg may target the 23.6% Fib level at 0.8266, followed by an extended move toward 0.8355.
Key resistance: 0.8266 and 0.8355 (Fib levels)
Stop loss: around 0.8093–0.8056 zone (previous support and breakout base)
Structure Bias: Bullish breakout after prolonged downtrend – confirmation depends on sustained move above 0.8200
📊 Current Bias: Cautiously Bullish
🧩 Key Fundamentals Driving USDCHF
USD Side (Mildly Bearish to Neutral):
FOMC held rates, Dot Plot showed only one cut expected for 2025, but Powell’s tone was less hawkish.
US Retail Sales soft, and PPI/CPI showed signs of inflation cooling.
Recent risk-off sentiment (Middle East, oil spikes, equity volatility) supports the USD.
Trump commentary and 2025 election anticipation bring long-term uncertainty.
CHF Side (Strong but potentially weakening):
SNB held rates steady, with cautious tone—no urgency to hike again.
Safe-haven flows still support CHF, but waning inflation and stronger global equity market might reduce CHF appeal.
SNB has hinted at FX intervention readiness, which could weaken CHF if necessary.
⚠️ Risks That May Reverse or Accelerate Trend
False breakout risk if 0.82 fails to hold → deeper pullback toward 0.8090
Stronger CHF demand on geopolitical fear (Israel–Iran, Ukraine)
Unexpectedly weak US data this week or renewed Fed dovish talk
🗓️ Important News to Watch
US: Core PCE, GDP revision (June 27), jobless claims
CHF: Swiss CPI, SNB FX intervention chatter
Risk sentiment: Iran/Israel tensions, equity volatility, Trump Fed commentary
🏁 Which Asset Might Lead the Broader Move?
USDCHF could mirror sentiment across CHF pairs—if risk-on resumes and CHF weakens across the board (EURCHF, NZDCHF also rallying), USDCHF may accelerate higher.
Weekly Forecast Based on Simplified Wave Analysis for USD/CADThe downward wave that formed on the USD/CAD chart tis year has been followed by a corrective move since late May. The pair is largely confined to a sideways price channel. The current wave structure remains incomplete, lacking final segment.
Forecast:
The pair may decline further in the coming days, reaching the support zone. A reversal and upward movement from support may follow. The resistance zone reflects the upper boundary of the pair's expected weekly volatility.
Potential Reversal Zones
Resistance: 1.3800/ 1.3850
Support: 1.3640/ 1.3590
Recommendations:
Selling: Possible intraday in small volumes, not beyond the support zone.
Buying: Consider only after confirmed reversal signals appear near support.
USDCAD 4-hour chart
USDCAD is consistently trading within a clearly defined descending price channel, indicating a prevailing downtrend.
Price action is characterized by a series of lower highs and lower lows, respecting both the upper and lower boundaries of this channel.
The pair has recently encountered resistance near the upper channel boundary, leading to a turn lower.
Based on the established channel, the current price trajectory suggests a potential move towards the lower boundary of the descending channel.
Disclaimer:
The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.
AUDUSD Bull Flag developing Trend Overview:
The AUDUSD currency price remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher.
Key Technical Levels:
Support: 0.6465 (primary pivot), followed by 0.6445 and 0.6400
Resistance: 0.6570 (initial), then 0.6590 and 0.6625
Technical Outlook:
A pullback to the 0.6465 level, which aligns with the previous consolidation zone, could act as a platform for renewed buying interest. A confirmed bounce from this support may trigger a continuation toward the next resistance levels at 0.6570, 0.6590, and ultimately 0.6625.
Conversely, a daily close below 0.6465 would suggest weakening bullish momentum. This scenario would shift the bias to bearish in the short term, potentially targeting 0.6445 and 0.6400 as downside levels.
Conclusion:
AUDUSD maintains a bullish structure while trading above the 0.6465 support. A bounce from this level would validate the consolidation as a continuation pattern, with upside potential toward the 0.6570 area. A breakdown below 0.6465, however, would invalidate this view and suggest deeper corrective risk.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
GBPUSD PullbackGBPUSD is in an overall bullish market
However, after a large bullish push, I am expecting price to pullback (sell off).
Price met resistance a weekly supply zone and closed as an indecision candle on the Daily.
The lower blue EMA crossed below the higher RED EMA on the 1hr chart.
Expecting price to selloff and find support at the 50.0 Fib level which also correlates with a demand zone, before continuing the overall trend.
EJ WAITING GAME Price is settling at an all time high. Waiting to see what price action has n store for the next couple of days.
We are in a bullish market at this time.
A simple trade idea at this time is looking for a pullback to the monthly support before testing all time high resistance marked above in red.
EURUSD Bullish and Looking for SupportWe have seen more USD weakness since the ceasefire in the MIddle East as the threat of Global inflation caused by higher Oil prices lowers, raising hopes of future rate cutes by the FED
EURUSD has broken out cleanly from a previous resistance zone, and can act as support on any retests of the 1.1616-1.1632 zone
Stops would need to be below 1.1612
Targets to be around 1.1670-1.1685
New rise in EURUSDYesterday, EURUSD continued its bullish movement, reaching 1,1807.
At current levels, all open buy positions should have their risk removed (e.g. stop loss at breakeven).
New buy entries are recommended only after a pullback with a favorable risk-reward setup.
Important news is expected later this week, which may lead to misleading price moves.
Reduce your risk and stay patient!