DXY - next weekAs for now still, for me DXY looks bearish - looking at price action. Price is still in the downtrend and I expect it to drop. That will of course depend on the Fundamentals in the upcoming week, but I trade what I see so until the high is broken, DXY seem to be losing it's value. That is important to know as I am for example still bullish on EU.
Freeanalysis
NZDUSD 29.7 - xAs you know at the moment my bias on DXY are still bearish so I would like to see pairs against the USD gaint the strength. NZDUSD came very deep into the buy zone of the lowest range possible so I will be looking for buys on this pair as well. It all depends on DXY and smaller time frame structure development.
EURUSDAs I said last week my Bias on EU remains the same. I am currently in a position and longs are valid for me. On 15 min time frame price made the flip in a structure after taking out the low and somewhere in that area was my entry. Longs are valid until the invalidation point is broken. But first task for the price is to break 15 min high and continue higher.
GBPJPY 29.7 - XGJ looks like it mitigated the buy zone on a Daily time frame, after a strong drop in price. Now we know that naturally price makes Impulse and then correction or as I call it Sprint and Recovery if the price action is healthy. I will look for buys on GJ as I would like to see price make a correction all the way up.
AUDCHF 29.7 - 5.8Hello guys, welcome to another analysis, this time AUDCHF. As you can see if you look on the chart, price took out the daily low and seeing that makes me question one thing: Is this objective completed for the price? Very likely it can be. On the 15min we already got the flip in structure, so I would like to see buyers come into the market and push the price higher.
If I don't post any analysis after this - I will post them soon. At the moment I am still on a vacation.
Blessings, T
GBPUSD H4 1 March 2024GBP/USD, H4
The GBP/USD currency pair has wiped out all the gains it made from the previous session's rebound, indicating that it is currently exhibiting bearish momentum. The U.S. Personal Consumption Expenditures (PCE) index, meeting market expectations at 2.4%, signals that inflation remains persistent in the country. Concurrently, the broader market sentiment has shifted to largely discount the possibility of a rate hike in June, which has subsequently bolstered the strength of the dollar. Furthermore, traders are closely watching the release of the UK's Manufacturing Purchasing Managers' Index (PMI) due today, as it is anticipated to provide insights into the Sterling's economic strength and potentially influence the currency pair's movement.
The GBP/USD pair declined and erased all its previous gain, suggesting a bearish bias for the pair. The RSI is gradually moving lower while the MACD is on the brink of breaking below the zero line, suggesting the pair is trading with bearish momentum.
Resistance level:1.2635, 1.2710
Support level: 1.2530, 1.2437
The Good the Bad and the Neutral scenarioLet's all wish a happy new year!
Let's all see the ads for the super products
don't worry if you don't .. the company knows how to do it!
* Let's remember those in our local area who need to sell their products (or online) and buy some (good scenario)
* Let's see more ads without buying nothing (Bad scenario for now)
* Let's see what our favourite people do with smoke signals until the market gives us the up or down signal
If you liked this idea or if you have your own opinion about it, write in the comments.
Thanks for reading!