Tradeaviator
EURCAD: TACTICAL LONG DOWN TO 1.4490 [15M]EURCAD: LONG 1.4550 / 1.4490 R60 T 1.4700
TACTICAL ENTRY: 1.4550 AND 1.4530
> HOLDING ABOVE GROUND LEVEL 1.4420
> FOCUS ON EUR CONTINUED STRENGTH, CAD WEAKNESS
> VERTICAL SPEED NEEDS TO DROP AND THEN INCREASE TOWARDS 1.4550
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AUDJPY: SHORT ON WEAKNESS TOWARDS 76.00 [4H]AUDJPY: SHORT 76.25 / 75.75 R50
> HOLDING ABOVE GROUND LEVEL 71.00
> FOCUS ON JPY STRENGTH, AUD WEAKNESS
> AIR CURRENTS SUPPORTING HIGHER MOVES. WATCHING FOR CHANGE
> VERTICAL SPEED NEEDS FADE TOWARDS 76.00
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AUDCAD: LONG 0.8935 / 0.8910AUDCAD: LONG 0.8935 / 0.8910 R25
> HOLDING ABOVE GROUND LEVEL 0.8860
> FOCUS ON AUD CONTINUED STRENGTH, CAD WEAKNESS
> AIR CURRENTS SUPPORTING SIDEWAY MOVES
> VERTICAL SPEED NEEDS TO DROP AND THEN INCREASE TOWARDS 0.8940
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AUDUSD: LONG 0.6790 DOWN TO 0.6725 [1H]AUDUSD: LONG 0.6790->0.6725 T 0.7000 1H
> FOCUS ON AUD FOR STRENGTH FROM U.S.-CHINA TRADE WAR
> AIR CURRENTS EXERTING UPWARD PRESSURE
> VERTICAL SPEED INDICATES INCREASING UPWARD PRESSURE
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BTCUSD : SHORT AT 9600 [4H]BTCUSD: SHORT 10375/ 9600 R775
> HOLDING ABOVE GROUND LEVEL 7400
> BTC SIDEWAYS AND NEEDS TO CLEAR ABOVE 8750 FOR INDICATIONS OF A MOVE HIGHER
> AIR CURRENTS SHOW DOWNWARD PRESSURE REMAINS
> VERTICAL SPEED NEEDS TO INCREASE TOWARDS 9750
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USDJPY: LONG TOWARDS 108.25 [1H]USDJPY: LONG 107.50 / 107.25 R25
> HOLDING BELOW CEILING LEVEL 108.50
> FOCUS ON USD CONTINUED STRENGTH, JPY WEAKNESS
> AIR CURRENTS SUPPORTING HIGHER MOVES
> VERTICAL SPEED NEEDS TO DROP AND THEN INCREASE TOWARDS 107.50
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USDJPY: LONG 110.00 [4H]USDJPY: LONG 108.05 / 107.85 R20
> HOLDING ABOVE GROUND LEVEL 106.25
> FOCUS ON USD CONTINUED STRENGTH, JPY WEAKNESS
> AIR CURRENTS SUPPORTING HIGHER MOVES
> VERTICAL SPEED NEEDS TO DROP AND THEN INCREASE TOWARDS 108.05
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USDSGD: SHORT DOWN TO 1.3600 [4H]USDSGD: SHORT 1.3710/ 1.3685 R25
> HOLDING BELOW CEILING LEVEL 1.3950
> FOCUS ON SGD CONTINUED STRENGTH, USD WEAKNESS
> AIR CURRENTS SUPPORTING LOWER MOVES
> VERTICAL SPEED NEEDS TO RISE AND THEN DECREASE TOWARDS 1.3600
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DXY: LONG [D] [10/07]DXY | Strong | 100.00 – 96.50
- The FED looks to decrease interest rates in 2020 sending the Dollar lower last week and has since rebounded. Move towards 99.00 was seen in prior weeks.
- US-China trade war continues to influence the markets. This has not stopped China from buying US Bonds.
- Dollar has held under 99.00 since November 2018 and above the October 2018 lows around 95.00.
- Key BUY area 96.90/96.60 R30
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EURUSD: SHORT [D] [10/07]EURUSD | Weak | 1.1450 – 1.1000
- ECB President Draghi’s stance suggests the need for stimulus requires only the status quo to persist, not that things get worse. A resumption of QE , for as early as Sep may be significantly EUR negative. In long term, EUR upside is possible on fading US fiscal stimulus and growth out-performance.
- EUR failed to move above 1.1200
- Support was found closer to 1.0925
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GBPUSD: LONG [D] [10/07]GBPUSD | Weak | 1.3400 – 1.2000
- Prime Minister Boris Johnson is in the hot seat and needs to bring certainty to the markets on Brexit.
- Brexit put downward pressure on GBP and uncertainty remains on its outcome.
- GBP is supported above 1.2000. PM Johnson’s Brexit comments resonated with his European counterparts and has brought short term strength back into CABLE.
- Key SELL area 1.2740/1.2670 R70
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AUDUSD: LONG [D] [10/07]AUDUSD | Weak | 0.7200 – 0.6700
- The RBA reduced rates further to 0.75% commenting that support to the economy from fiscal stimulus is needed as future rate cuts may be less effective to encourage economic growth.
- Employment expectations are looking to set 3% as the “new 5%” normally considered to represent full employment
- Aussie spiked to 0.6675, recovered to 0.6800 and is ranging between 0.6800 and 0.6740.
- 1st Key SELL area 0.6915/0.6890 R25
- Waiting for buying to resume
USDCAD: SHORT [D] [10/07]USDCAD | Weak CAD | 1.3650 – 1.3250
- The BOC was slightly dovish at the policy meeting and sounded relatively more concerned over downside risks to the outlook from global trade and growth uncertainties, which restrained the CAD.
- BOC may not always follow the Fed in cutting rates, but may do so and is capping CAD strength.
- CAD was supported at 1.3020 at is finding some resistance below 1.3400.
- Key SELL area 1.3385 /1.3315 R70
USDJPY: SHORT [D] [10/07]USDJPY | Strong JPY | 110.00 – 105.30
- The US designated China as a currency manipulator triggering funds flow into JPY for safety.
- The equity markets have rebounded after falling sharply in prior weeks and JPY has continued to strengthen as Japan buys more US Bonds. A new low formed just above 104.50.
-2ND Key SELL area 110.00/109.50 R50
-1ST Key SELL area 109.00/108.70 R30
USDCHF: SHORT [D] [10/07]USDCHF | Strong CHF | 1.0020 – 0.9650
- Geopolitical risks are elevated and has pushed funds into CHF, which may cause the SNB to intervene if it appreciates too rapidly.
- Further rate cuts by the SNB may be needed and the SNB may even expand its balance sheet if necessary. Should Italy fears re-escalate, the SNB will remain “active in the FX market as necessary.”
- Key SELL area 1.0030/0.9980
USDSGD: SHORT [D] [10/07]USDSGD | Weak SGD | 1.3945 – 1.3450
- MAS is expected to slightly increase the slope of its policy band for the third consecutive time during its April meeting, with the economy holding up and core inflation nearing 2 per cent.
- The SGD NEER was at 0.56% above the midpoint and is expected to trade between 0.4% to 0.9% above the mid-point, which implies a USDSGD range between 1.3852 and 1.3936.
- Sing found support above 1.3500 and has weakened all the way to 1.3950. Global economic weakness has put pressure on the SING.
- Key SELL area 1.3880/1.3840 R40