CADJPY trend up looking very strong, as we hit the demand ahead, buyers should be stepping in.
With multiple bounces of various support levels and the breakout of the long term downtrend trendline, finally we should see some strength in AUDUSD. I have two main targets for an upside swing, however, pair might retrace back to 0.7780 before / if going to hit the target. On the downside note, breakout below 0.7740 would invalidate these analyses and could once...
USDCAD RANGING STILL IN PLACE, ALTHOUGH I SEE A POTENTIAL CORRECTION DOWN TO S2 LEVEL, IF BROKEN WE ARE VERY LIKELY TO SEE S3 TARGET HIT IN THE COMING WEEKS. BREAKOUT OF R2 RESISTANCE COULD TRIGGER FURTHER MOVE UP TO 1.2660 AREA. BREAKOUT OF THE S1 SUPPORT AND CLEAN BOUNCE OFF IT COULD BE A GOOD CONFIRMATION FOR FURTHER DECLINE
After a very clean bounce of our downside target I believe there is some room for an upside move targeting 1236-1241 area.
Again, as no clear ground below, there is always tendency for further fall. Printing lower lows and lower highs EURJPY definitely has some downside potential, either 133.40 or near 131.50 - 132.00 areas. Only breakout above R3 would change the direction.
Pair had a very firm bounce off our resistance at 0.9678. There were attempts to break it but no... followed by the new low. I'd epxect AUDCAD to hit the nearest target located at 0.9660 area
As pair broke our key resistance level at 1.4404, I'd expect further extensions up, toward at least nearest resistance at 1.45 area. At some point afterwards EURAUD should potentially hit the target at 1.4260 or lower.
Although the EURUSD was quite near the strong support level at 1.1142, it failed to touch this level, suggesting that pair remains weak with some further potential to decline, at least for the short while. At the support level (if hit) we'll need to see whether holding or not. On the other hand, breakout above R1 should switch the ranging mode on.
The pair does not seem to have a strong ground below that may result in further drop, at least to make it double bottom, with further potential. At the same time 1h close above 1.26.26 could send the pair higher or continue consolidation. Watch our for nearest resistance around 125.72.
As can be seen on the chart NZDCAD looking very much down unless we'll have 4H close above key resistance level.
Before we see GBPJPY daily close above the key resistance level of 184.788, probability for a swing down is very high. First downside target would be 181.30 area. At the same time Daily close above key resistance could push pair back to the top of 12.2014 at 190 area.
EURAUD did not have a strong ground below and therefore is still vulnerable to the downside pressure. We need to look for the nearest support and resistance levels to determine the mid/long term direction, which currently is in favour of the downtrend continuation.
Multiple breakouts to the downside strongly suggest a very bearish sentiment with the first target around 1.9050-1.9080. We are right on the downtrend trendline, lets see what happens there.
THE BIG CONFIRMATION FOR THE DOWNTREND SEEMS A CONSISTENT BOUNCE OFF THE FIB RESISTANCE LEVELS AND THE BREAKOUT OF THE RECENT LOW. LOOKS LIKE THE RALLY JUST STARTING, TARGETING 1.3550 - 1.3500 AREA
Only 4H close below 93.185 level could push AUDJPY further down. As of yet all looks very bullish.
THERE ARE A LOT OF FACTS POINTING OF THE BEGINNING OF AN UPTRNED. HOWEVER, FIRST WE COULD SEE SOME WIDE RANGING MARKET THAT WOULD BRING AUD BACK TO THE KEY SUPPORT LEVEL AROUND 0.78. IF HOLDS, NEXT UPSWING SHOULD HIT 0.7930. AT THE SAME TIME WATCH OUT FOR THE BREAKOUT OF THE RECENT HIGH, THAT WOULD POTENTIALLY PROVOKE A RALLY UP BEFORE HITTING OUR SUPPORT
BREAKOUT OF THE KEY SUPPORT AREA AT 1.2460 CONFIRMS THAT BEARS ARE DRIVING AT THE MOMENT. BREAKOUT OF THE 1.2380 AREA WILL CONFIRM MID TO LONG TERM DOWNTREND
GBPCAD displaying a bearish divergence together with the channel breakout that suggest a potential correction or a reversal to the downside. We are targeting either 1.9160 or 1.9050 areas. If both are penetrated, it would show a significant weakness in this pair for the long term. At the same time we should monitor key resistance level, technical as well as...
