AUD/USD:
Dwelling approvals out of Australia Monday fell a further 8.4% in December following a 9.8% drop in November and coming in much weaker than the consensus forecast of a 2.1% lift.
Weighed on by local data and a strengthening US dollar, the AUD/USD carved out its second consecutive loss from an overall peak of 0.7295 printed Thursday.
In terms of...
EUR/USD:
Despite observing a brief flicker of activity around January’s opening level on the H4 timeframe at 1.1445, the single currency yielded ground to its US counterpart Monday.
Clocking lows of 1.1424 amid broad-based USD strength, yesterday’s move exposes a possible AB=CD bullish pattern (black arrows) completion today, positioned just ahead of the 1.14...
GBPJPY reversed off its resistance at 1.6618 (61.8% Fibonacci extension, 32.8% Fibonacci retracement, Horizontal overlap resistance) where it is expected to drop further to its support at 1.6530 (Horizontal swing low support).
Stochastic (89, 5, 3) reversed near its resistance at 95% where a corresponding drop is expected.
NZDUSD is approaching its support at 0.6860 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 0.6936 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 1.65% where a corresponding bounce could occur.
GBPJPY reversed off its resistance at 143.52 (61.8% & 100% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal overlap resistance) where it may drop further to its support at 142.83 (50% Fibonacci retracement).
Stochastic (89, 5, 3) reversed near its resistance at 95% where a corresponding drop may occur.
AUDCHF is approaching its support at 0.7172 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 0.7237 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 5.4% where a corresponding bounce could occur.
GBPJPY is approaching its support at 141.98 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 143.15 (76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 4.6% where a corresponding bounce could occur.
AUDUSD is approaching its support at 0.7232 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 0.7289 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 2.5% where a corresponding bounce could occur.
GBPUSD is approaching its support at 1.3003 (100% Fibonacci extension, 50%, 38.2% & 23.6% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.3154 (78.6% Fibonacci retracement, Horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
USDJPY is approaching its resistance at 109.14 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it could potentially reverse to its support at 108.77 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 87% where a corresponding bounce could occur.
XAU/USD (GOLD):
For traders who read Thursday’s briefing you may recall the piece highlighted a potential pullback from the H4 resistance level at 1325.4, as it’s housed within the walls of a daily supply zone plotted at 1332.6-1322.3. In addition to this, it was also noted the H4 RSI indicator was (still is) trading within overbought terrain.
Well done to any...
Dow Jones Industrial Average:
In recent sessions, US equities advanced marginally higher amid optimistic vibes surrounding US/China trade talks. Commentary from US President Trump stated the US has not extended the 1 March deadline for China talks, though says he thinks everything will be agreed to when he meets China President Xi.
Technically speaking, sellers...
NZDUSD is approaching its resistance at 0.6967 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could reverse down to its support at 0.6876 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
EURGBP is approaching its resistance at 0.8765 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 0.8724 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
EURJPY reversed off its resistance at 125.47 (61.8% & 100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing high resistance) where it could drop further to its support at 124.67 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 98% where a corresponding drop could occur.
CADCHF reversed off its resistance at 0.7589 (100% Fibonacci extension x2, 76.4% Fibonacci retracement, horizontal swing high resistance) where it could drop further to its support at 0.7516 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) reversed off its resistance at 98% where a corresponding drop could occur.
AUDCAD is approaching its resistance at 0.9549 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing high resistance) where it could reverse down to its support at 0.9521 (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
CADCHF is approaching its resistance at 0.7511 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could reverse down to its support at 0.7464 (76.4% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
