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Gbp-nzd

AUDUSD carves right shoulder at 0.7080/90 levels?The AUDUSD pair staged an impressive rally yesterday printing highs at 0.7148 levels before pulling back lower. Please note that in this process, an engulfing bullish candlestick pattern was produced on the 4H chart presented here, indicating a potential reversal. Looking at the wave counts, the Aussie Dollar had produced an impulse rally between 0.7020 and 0.7340 levels earlier; which was followed by an expected flat corrective drop that might have terminated as Wave 2 around 0.7087 levels recently. Furthermore, prices have bounced higher from a strong convergence point of fibonacci 0.786 support of the impulse rally, backside of the resistance turned support trend line and a potential right shoulder of a H&S potential. If the above structure should hold, we could see prices staying above 0.7087 levels going forward. Overall, bullish momentum could stay until prices remain above 0.7020 levels. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM
CADJPY approaching resistance, potential reversal!CADJPY is approaching our first resistance at 85.06 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where a strong reversal might occur below this level pushing price down to our major support at 84.31 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding reversal in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
GBP/NZD short setupGBP/NZD hits fresh 13-month lows at 1.83 handle, bias lower. Momentum with the bears. Price action has slipped below weekly cloud and rising volatility signals further drag lower. Markets largely ignored upbeat IHS Markit's Manufacturing PMI. Brexit uncertainty to keep any recovery attempts in the pound capped. The pair eyes next major support at 61.8% Fib retracement at 1.8143. Bearish invalidation only above 200-DMA. Good to stay short on upticks, target 1.8150
Short
by FxWirePro