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Will the AUD/USD uptrend continue today?AUD/USD News: 🔆Recent global trade disputes have bolstered risk-sensitive currencies, leading to an uptick in the Australian Dollar as the US Dollar weakened. The Aussie took advantage of the Greenback's decline, recovering from midweek setbacks and briefly reaching the 0.6399 level, the peak of its monthly range. 🔆With inflation easing in Australia, investors are expecting the Reserve Bank of Australia (RBA) to lower interest rates from 4.35% to 4.10% on Tuesday. However, the RBA might adopt a more hawkish stance by emphasizing ongoing labor-market tightness and lingering inflation risks. 🔆As a result, market participants will be paying close attention to the RBA’s statement, as it remains the last of the G10 central banks yet to cut rates. Personal opinion: 🔆AUD will have a technical pullback phase after approaching the overbought RSI (4H) zone. And bounce back when there is a strong support zone of 0.6300 to maintain the uptrend. Analysis: 🔆Based on the trend line combining resistance - support levels and SMA lines to come up with a reasonable strategy Plan: 🔆Price Zone Setup: 👉Sell AUDUSD 0.6310 – 0.6299 ❌SL: 0.6250 | ✅TP: 0.6350 – 0.6400 – 0.6450 FM wishes you a successful trading day 💰💰💰
Long
by FM-ForexMastermind
5
EURJPY Approaching Major Support – Will Buyers Step In?OANDA:EURJPY is approaching a significant support zone, highlighted by previous price reactions and strong buying interest. This area has historically acted as a key demand zone, increasing the likelihood of a bounce if buyers step in. The current market structure suggests that if the price confirms support within this zone, we could see a bullish reversal. A successful rebound could push the pair toward the 160.000 level, a logical target based on past price behavior and structural confluence. Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management. Best of luck!
Long
by TrendDiva
2
POTENTIAL SHORT TRADE SET UP FOR GBPCHFAnalysis: Utilizing chart patterns, highs & lows, and impulses & corrections, the focus is on identifying a continuation corrective structure following a breakout. Entry: The price approached the previous HTF swing high zone with an ascending structure on the mid time frame (MTF), forming a double top pattern at the peak of the swing high area. Subsequently, the price broke below the lower time frame ascending structure, signaling a bearish shift, and formed another bearish continuation-like pattern. Expectation: A downward move is anticipated, targeting the base of the mid time frame (MTF) ascending structure. ⚠️ Reminder: Conduct your own analysis and implement proper risk management, as forex trading carries no guarantees. This is a high-risk endeavor, and past performance does not predict future outcomes. Trade responsibly!
Short
by TheTradingAmbience
USDJPY Wave Analysis – 20 February 2025 - USDJPY broke support zone - Likely to fall to support level 148.70 USDJPY currency pair recently broke the support zone between the support level 151.00 (which formed the daily Morning Star at the start of February) and the 50% Fibonacci correction of the previous upward impulse from September. The breakout of this support zone accelerated the active short-term impulse wave 3 – which belongs to wave (3) from January. USDJPY currency pair can be expected to fall to the next support level 148.70 (the former monthly low from December).
Short
by FxProGlobal
USDJPY weaker on hawkish BoJ expectationsThe JPY (Japanese Yen) continues to strengthen against US Dollaar amid rising bets for additional BoJ rate hikes. The USDJPY currency pair price action sentiment appears bearish, supported by the longer-term prevailing downtrend. The key trading level is at 152.50, which is the current swing high. An oversold rally from the current levels and a bearish rejection from the 152.50 level could target the downside support at 149.30 followed by 147.80 and 147.20 levels over the longer timeframe. Alternatively, a confirmed breakout above 152.50 resistance and a daily close above that level would negate the bearish outlook, opening the way for further rallies higher and a retest of 154.30 resistance level followed by 155.70. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
USD/JPY Breaking Lower, Fib Levels in Play📉 Key Breakdown Below 150.00 USD/JPY has fallen sharply, breaking below key support at 151.50 (38.2% Fib retracement) and testing 149.63 (50% Fib level). The pair is trading below both the 50-day EMA (153.80) and 200-day EMA (152.17), reinforcing downside pressure. 🔍 Technical Levels to Watch: Support: 149.23 (50% Fib retracement) → Current price is testing this level. 146.95 (61.8% Fib retracement) → Next major downside target. 143.71 (78.6% Fib retracement) → Deeper bearish target. Resistance: 151.50 (38.2% Fib retracement, former support, now resistance) 152.17 (200-day EMA) → A key level to reclaim for bulls. 📊 Momentum Indicators Bearish: RSI at 33.18 → Near oversold territory, but still trending downward. Bearish momentum accelerating, further losses possible. 🔻 What’s Next? If USD/JPY holds below 150.00, expect further downside toward 146.95. A recovery above 151.50 could neutralize the immediate bearish outlook. Right now, momentum favors the bears, and lower Fib levels remain in focus. -MW
by FOREXcom
EURUSD Will Fall! Sell! Please, check our technical outlook for EURUSD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.043. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.041 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1