ForexAnalytixPipczar

ForexAnalytixPipczar

Intraday Update: The EURAUD has completed the bull flag pattern. However, with the headlines today out of China, the risk is we could continue to squeeze, and target is a guess at this point. Some traders will fade this, I would wait till after US stocks markets reopen

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Intraday Update: The AUDUSD has broken flag support following the headline from China that they are going to impose a 34% retaliatory tariff. The AUDUSD just surpassed the 127% extension and now may target the .6118 level intraday. Long term targets the post covid lockdown lows.

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Intraday Update: The EURUSD has hit the 1.1100 level, going as high as 1.1146 and surpassing the long term trend line of 18yrs near 1.6000. This is a big resistance, expect two way price action around these levels.

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Intraday Update: The EURUSD is nearing the 1.0871 level as Europe announced that they are looking at measures to guard the economy from Trump Tariffs. That is the 61.8% retracement of the 1.0959 level to 1.0730.

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Intraday Update: Despite the weaker Australian CPI overnight the EURAUD slipped below 1.7085 which may allow for a move to the 1.7020 level, which is the 38% retracement. A bullish pennant may be developing.

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Intraday Update: With the weaker CPI, the GBPJPY slipped from resistance and the budget statement will be out a little later in the session. The GBPJPY has forged key resistance at the 195.00 level as noted all week. While below the risk is for a move back to the 192.00 level now.

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Intraday Update: The S&P futures are up today following possible tariff news being factored in from some weekend headlines about "targeted reciprocal tariffs" for April 2nd, which is allowing for the S&P to near the 38% retracement which would be the top of the beer flag pattern and setup.

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Intraday Update: Another strong rejection of the 68.50 level. Since it is the end of the week, the risk is building for a big move either back to the 65.20 support or perhaps a break of the key 68.50 level.

ForexAnalytixPipczar

The SPX is bouncing from pennant support this morning. So in other words, the overnight lows in futures MUST hold or w may attack trend lows.

ForexAnalytixPipczar

Intraday Update: The Kiwi is back at the broken trend line (triangle) and also the 38% retracement of the March rally. A move back below the .5730 level would target the .5680 level.

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Intraday Update: Following the debt brake news, the EURJPY hit/rejected the daily trend line at 162.33 which does suggest this is massive resistance for the pair.

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Intraday Update: In the event the NFP beats expectations, the play may be a long USDCHF today, intraday RSI's are very oversold intraday and the EURCHF is holding the breakout point. Keep this pair on the radar post NFP.

ForexAnalytixPipczar

Intraday Update: The DXY hit the 161% extension of the Jan 27th lows to Feb 2nd highs. It's also the longer term 50% retracement. This "confluence" may allow for a bounce back to the 106.00 level before downside resumption.

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Intraday Update: After the failure of the 61.8% retracement yesterday at the 1.4549 level, the Loonie is back at support at the 1.4370 level and holding ahead of any new tariff announcements today. A break of this level would open a move back below the 1.4200 level.

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Intraday Update: The EURUSD is breaking higher, HOWEVER, the pair is nearing a triple confluence of the long term 38% retracement, and 127% and 161% extension from the 1.0570-80's. With the intraday RSI's reaching overbought, there is a risk of a reversal at those levels.

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Intraday Update: The GBPAUD is up against some key resistance. This is the 127% ext of the Aug 2024 highs to Act 2024 lows, the 161% ext of the Oct 24 highs to Nov 2024 lows. And also has completed a bearish butterfly while we trade below the 2.0315 level resistance.

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It's holding the channel for now, but with a lower high, this DAX may be ready for a turn lower.

ForexAnalytixPipczar

Intraday Update: The divergent RSI in the 10yr ZN's is allowing for a pullback/moderation of overbought intraday conditions, and yields have recovered near term. However, we expect dips to be bought in any dip towards the 110'00 level.