Get started

Fxtrading

USD/JPY grinds higher despite a weaker DXY Ahead of a busy week, the the US dollar index has started Monday's session on the backfoot, largely thanks to a relief rally on the EUR/USD exchange rate. But against currencies where the central bank is more dovish than the Fed – most notably against the likes of the Japanese yen and Chinese yuan - the dollar remains supported. After Friday’s latest inflation data (core PCE price index), which was bang in line with expectations, more key US economic data is to come over the next couple of weeks. The June non-farm jobs report is due on Friday, followed by the CPI on July 11. This week’s other important data releases include the ISM manufacturing and services PMIs, ADP private payrolls, JOLTS Job Openings, and FOMC minutes. Given how the USD/JPY has been able to grind higher despite some weakness in US data, it is not unreasonable to expect that trend to continue unless the BOJ/MoF potentially intervenes in FX markets. Key support comes in around 160.00 now, which was the previous multi-decade high that was hit in April. Below this level, there is not much in the way of obvious support levels to watch until 157.70 area. Meanwhile, on the upside, the 127.2% Fibonacci extension level of the drop from April high comes in at just below 162.50, making this our next bullish objective for this pair. By Fawad Razaqzada, market analyst at FOREX.com
by FOREXcom
DXY in a critical area.. TVC:DXY - Is in a critical area now almost completing an ABCD rally. Why its so critical is that if it fails in this area then it will likely drop down to the 102.00 area. In turn this will likely give the Indices that one last push higher to complete patterns. If it starts rallying through the 104 level then we will likely see a run to the bigger upside pattern at 108-109 area which will give us a deeper correction in the Indices and likely GOLD. 🧐🧐 Big few days ahead.. 💰💰
TVC:DXYShort
by L_F
2
EUR/USD hit by weak Eurozone PMI dataThe EUR/USD got another reality check earlier today with the release of disappointing PMI data from the eurozone, suggesting that growth in Q2 may be lower than expected. Add to this the ongoing French election uncertainty and the rise of far-right parties across Europe, and the recent rise in oil prices, the short-term outlook continues to look bearish. As such, I wouldn't be surprise if the EUR/USD now establishes a new ceiling below the 1.07 handle, with the bears having defended prior broken support levels such as 1.0750 and 1.0790 successfully. The next potential support is the trend support at 1.0650, following by the prior low made in April around 1.06 handle. By Fawad Razaqzada, market analyst at FOREX.com
by FOREXcom
AUDCAD Sell/ShortAUDCAD looks like a good signal from here that has bounced off resistance, came back a bit, and seems to not be a strong higher low for AUDCAD. Our analysts and myself am calling a sell short here due to the fact this pair has repeated multiple patterns in the same way in the last few months and as well it has the best risk/reward ratio I have seen so worth the bet to make. Please follow the entry, SL, and TP. Please make sure to follow our page for more daily signals!
Short
by KingTraderFX
1
USDCAD: Detailed Support & Resistance Analysis 🇺🇸🇨🇦 Here is my latest structure analysis for USDCAD. Vertical Structures: Vertical Support 1: Rising trend line Horizontal Structures: Support 1: 1.3664 - 1.3682 area Support 2: 1.3590 - 1.3627 area Support 3: 1.3547 - 1.3570 area Support 4: 1.3420 - 1.34920 area Resistance 1: 1.3777 - 1.3804 area Resistance 2: 1.3828 - 1.3846 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
EURUSD - Key Area. Will the rally fail?OANDA:EURUSD Completed a small Gartley pattern on Friday, now we look for a rally to see if it's going to fail around the 1.0853-1.0880 area. There are bigger TF patterns that take it a lot lower with the first one down below 1.0600 and larger pattern below 1.0300. A move above 1.0950 could send it towards 1.1100 and even 1.1300. That's why this week is so critical to where we head next. I will post the weekly AI to see if we can find a CIT Window. Enjoy the week.
Short
by L_F
1
USD/CAD looks set to break higherPrice action may be choppy on the daily timeframe, but it remains in an uptrend none the less. Price action since the April high appears to be corrective, and support was found around a prior VAH (value area high) and 1.36 handle. The 1-hour chart shows strong bullish momentum from 1.36, and prices are now consolidating within a potential bull flag. The pattern projects an upside target around 1.3745, and the lows of the consolidation are holding above the weekly/monthly pivot and 10-day EMA. The bias is for prices to rise to at least 1.37 near the weekly R1 pivot and 1-day implied volatility band.
Long
by CityIndex