NZDJPY is approaching resistance at 76.10(61.8% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizonal swing high resistance) where it could potentially reverse and fall to its supprot at 74.91 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a...
EURAUD is testing its support at 1.5713 (61.8% & 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce off from here and to its resistance at 1.5858 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.9% where a corresponding bounce...
Amid a stronger US equity market and robust US Treasury yields, the USD/JPY enjoyed a relatively successful start to the week on Monday. Nudging its way through July’s opening level seen on the H4 timeframe at 110.65, traders have the 111 handle in view for a third time this month. Also on the radar this morning is the nearby H4 Quasimodo resistance levels at...
AUDUSD is approaching resistance at 0.7479 (100% & 61.8% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal pullback resistance, where it could react off, causing price to fall to its support at 0.7374 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding...
AUDNZD bounced nicely off its support at 1.0850 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 1.09944 (horizontal swing high resistance).
Stochastic (89, 5, 3) bounced off its support at 3.7% where a corresponding rise could occur.
GBPJPY is testing its resistance area at 147.87 (61.8% Fibonacci extension x2, 76.4% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 145.32 (61.8% Fibonacci extension, horizontal swing low support).
Stochatic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
EURUSD is testing its resistance area at 1.1760 (100% Fibonacci extension, 23.6% & 76.4% Fibonacci retracement, horizontal overlap resistance) where it coul potentially fall to its support at 1.1647 (61.8% Fibonacci extension, horizontal overlap support).
Stochatic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
Weekly perspective:
EUR/USD bulls continued to play offensively last week, extending gains off nearby trend line support (taken from the low 1.0340). Despite price concluding the week not too far off its highs, though, the resistance area parked at 1.1717-1.1862 remains in play. For this reason, traders could witness selling pressure enter the market over the...
CADJPY is testing its resistance at 84.21 (61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal could occur, causing price to fall to its support at 83.08 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
GBPUSD has reversed nicely off its resistance at 1.3266 (100% Fibonacci extension x2, 50% & 78.6% Fibonacci retracement, horizontal swing high resistance) where it could drop to its support at 1.3149 (100% Fibonacci extension, horizontal pullback support).
Stochastic (89, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur. We have also...
NZDUSD is testing its resistance at 0.6794 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where price could potentially reverse down to its support at 0.6691 (100% Fibonacci extension, horizontal swing low support).
Stochastic (55, 5, 3) is approaching resistance at 97% where a corresponding reversal could occur.
NZDJPY is approaching its resistance at 75.43 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially react off, causing price to fall to its support at 74.15 (100% Fibonacci extension, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal...
As is evident from the H4 timeframe this morning, price action retested July’s opening level at 1251.8 as support and held ground on Thursday. This was a noted level to look for longs from, but only if the unit printed a full or near-full-bodied H4 bull candle, which it didn’t. A second retest – a third if you include the initial pullback after the break higher –...
USDCAD is testing its support at 1.3124 (61.8% & 23.6% Fibonacci retracement, horizontal overlap support) where we expect price to bounce up to its resistance at 1.3345 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.4% where a corresponding bounce could occur.
GBPJPY tested its resistance at 146.43 (61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where we could potentially drop to its support at 144.88 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) reversed near its resistance at 97% where a corresponding...
USDJPY is approaching its support at 110.18 (61.8% Fibonacci extension, 50% Fibonacci retracement x2, horizontal overlap support) where price could potentially bounce off from, rising to its resistance at 111.04 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 4$ where a corresponding bounce could occur.
XAUUSD is testing its resistance at 1259 (61.8% & 23.6% Fibonacci retracement, horizontal swing high resistance) where we a reversal could occur, causing price to fall to its support at 1238 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching resistance at 93% where a reversal could occur.
Solid macroeconomic data out of the UK on Wednesday helped the GBP/USD reclaim the 1.32 handle in strong fashion. Though price action found difficulty extending these gains at nearby H4 resistance drawn from 1.3213, the pair eventually overpowered the obstacle amid thin US trade and clocked a fresh weekly high of 1.3249.
Recent movement has placed the H4...
