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07mar22

USDCAD- 07Mar2022USDCAD- 07Mar2022 Technically, USDCAD price action is very mixed due to its bearish price action on the monthly time frame but bullish on the weekly and daily time frame. With the added mix of Russia-Ukraine political situation that caused oil price huge fluctuation and BOC raising its interest rate from 0.25% to 0.5%. On the daily, price only manage to close above all 3 MAs once again. On the H4, price once again tried to break out from the channel but face bearish pressure at 1st Resistance at 1.27835. Price is now above all the 3 MAs and more on bullish bias. If price can close above the upper trendline channel, we could expect price to bounce higher to 2nd Resistance at 1.28405. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
EURUSD- 07Mar2022EURUSD- 07Mar2022 On the weekly, last week candle gapped down then faced bearish pressure after bouncing back to retest the gap. The price broke below the channel and closed lower than the previous week's candle. We could expect price to face further bearish pressure to 1st Support at 1.07480. On the H4, EURUSD faced extreme bearish pressure last Friday due to market participants sell EUR as worries about the geo-political could impact on the euro zone economy. With Stochastic indicating room for further downside, we could expect price to drop lower to 1st Support at 1.07485. This is for personal record purposes only, not financial advise or solicitation of trade.
Short
by TTMFS
GBPUSD- 07Mar2022GBPUSD- 07Mar2022 On the weekly, GBPUSD bounced and faced bearish pressure from the trendline resistance. It closed below previous week's low. In the bigger picture, price is trending down in a channel. For this week, we could expect price to drop to test 200MA at around 1.31180. On the H4, GBP broke down from the triangle pattern with further downside target to around 1.30500. Price action broke below previous sideway consolidation support level at around 1.33000. With Stochastic at support, GBPUSD could potentially have a short-term bounce from 1st Support at 1.31505 to 1st Resistance at 1.33140. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
DXY - 07Mar2022DXY - 07Mar2022 On the weekly, DXY surged all the way up to 98.870 after the geo-political event intensifies and market participants flee into USD as safe-heaven. It is now at upper channel resistance, we could expect a price to have a short-term pull or consolidate next week. On the H4, price has surged past its triangle breakout target around 98.42 to highest of 98.90. Price action is indicating completion of wave count of (5)-(III). With Stochastic at resistance, we could expect price to start consolidating/pullback for Wave (5)-(IV). In the event of price action closing back below 97.780, this wave count will become invalid. This is for personal record purposes only, not financial advise or solicitation of trade.
TVC:DXY
by TTMFS