AUDUSD is approaching our first resistance where we might be seeing a further drop to our first support level. Stochastic is approaching resistance as well.
EURGBP reversed off our first resistance where we might see a further drop to our first support level. Stochastic is also approaching our first resistance as well.
GBPJPY is facing bearish pressure from our breakout level where we might see a further drop to our first support level. Stochastic is also approaching resistance where we might see a corresponding drop in price.
EURUSD is approaching our first support where we might see a corresponding bounce in price to our first resistance level. Stochastic is approaching our first support level as well.
AUDUSD reversed off our first resistance where we might see a further drop to our first support level. Stochastic is also approaching resistance where we might see a drop below this level.
EURCAD is approaching its resistance at 1.5155 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 1.5073 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reversal is expected.
GBPAUD is approaching its support at 1.8131 (100% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1.8286 (23.6% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its support at 4.2% where a corresponding bounce could occur.
CADCHF is approaching its support at 0.7384 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7478 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.13% where a corresponding bounce could occur.
AUDCAD is approaching its resistance at 0.9396 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.9324 (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
AUD/USD:
In the early hours of Monday, the commodity-linked currency derived fresh impetus from better-than-expected Caixin PMI data out of China. Further buying materialised in US trade as unearthed speculations of a Fed rate cut on the back of comments from Chicago Fed President Bullard.
Although market participants are looking to the RBA today, the technical...
AUDJPY is approaching its resistance at 75.42 (100% & 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 74.98 (horizontal swing low support).
NZDUSD is approaching its resistance at 0.6558 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 0.6527 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
XAGUSD is approaching its resistance at 14.64 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 14.45 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 90% where a corresponding reversal is expected.
AUDUSD is approaching its resistance at 0.6965 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.6937 (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reversal is expected.
GBP/USD:
Largely emulating EUR/USD movement, the GBP/USD engulfed a H4 support area at 1.2606-1.2646 and confronted 1.26 as price headed into Thursday’s close.
In Thursday’s morning brief, the piece highlighted the following (potential) scenario:
Although some traders are likely looking to buy within the H4 support area at 1.2606-1.2646, given it has a...
