Forextradingzones
possible 200pip short for EurUsd Market has given strong price action to the downside with the current bearish push creating a new low. Seeking market to retrace and give sell entry from designated zone for nice risk to reward on a short. Market should continue pushing down and create a new low for over 200pips from entry zone.
CADCHF Short pullbackThe last movement down is explained by the current Swiss´s economics becoming more interesting than the US considering investors are looking for stronger economies where interest rates are still rising. Therefore, it is likely that the downtrend will continue as the Swiss currency will have more value. Furthermore, investors are looking for safe investments during the next possible recession, thus investors will go for the Swiss Franc as it is still considered as a safe haven asset. The rebound zone considers possible old support turning into a resistance.
EURUSD Long positionConsidering the US inflation level is decreasing, investors are looking for currencies where the interest rate will increase. Therefore the value of the dollar is likely to decrease as the FED is less likely to aggressively increase interest rates as they did before. In the end, the value of EURUSD will increase following this logic. The rebound zone has an old resistance likely to become a support.
GbpJpy short setup to take liquidity of demand zoneI could see a sell forming as price action seems like market makers want to run on this demand zone pushing down to the next level for a nice sell setup that should short for over 250pips from sell zone in markup resulting in over 2:1 risk to reward.