EURCAD - is also looking bullish after rejecting the bottoms zone. We are not going long on the one because we are putting the zone at 1.45500 into consideration. In order for us to be comfortable with this pair, we wanna see a break above 1.45500, a retest, rejection and confirmation to go long.
EURJPY - EURJPY is looking bullish and we expect price to push further to the upside, them create a triple top which and give us extra confluence with the daily trendline. 2 ways to go about this one, we might wanna go for a buy and aim the trendline and zone or wait for the triple top, then rejection then sell.
USDJPY - This pair has been on our watchlist since last week and we patiently waited for price to tap our 109.690 area which happened. From there we saw a big rejection on the daily which showed us that the sellers we more than the buyers. Putting the weakness on DXY, we are looking to go for a sell on this one.
If we are expecting dollar weakness then we should be expecting GOLD to strengthen. Fortunately, GOLD has gone for a retest at 1550 area and the daily close on Thursday was a pin bar and the daily close on Friday was a bullish push. From here we should be looking for long opportunities on the smaller TF.
EURUSD - After analysing DXY, it is very clear that we are expecting USD weakness which is going to be bullish for EURUSD. EURUSD is in an uptrend and we have been able to identify the trend, also price reject a zone at 1.10800 area. The last daily candle closed as a pin bar and the previous one closed as a doji. From here, we going to be looking for opportunity...
DXY - is also known as DOLLAR INDEX. DXY is used to measure strength of USD across major pairs like EURUSD and USDJPY. Looking at this chart, it is clear that DXY is trading in a downtrend channel and it is bearish. DXY IS currently at the top of the trend line, reacting to 3 different things. 1) Trendline 2) 200EMA 3) zone. Also, the last daily candle closed as...
AUD is looking bullish across a lot of it's pairs according to our analysis. We may have fount the 'ideal' area to buy AUD/USD from if you are an agressive trader.