ForexAnalytixPipczar

ForexAnalytixPipczar

Intraday Update: The AUDUSD has bounce from the 161% extension of the June 28th lows to July 10th highs and should find some resistance at previous support at the .6580/90 level today. A break above that would cause a short squeeze into the weekend.

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Intraday Update: Bear flag pattern nearly complete in the SPX, and the 38% retracement of the April 18th lows to July 15th highs is less than 40 points away. With RSI's oversold intraday, we are at risk of a near term bounce.

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Asian Session Update: The USDJPY is nearing MAJOR support at the 152.00 level, the 200dma is just below 151.90, which should act as a level for buying to step back in the market.

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Intraday Update: Crude has found support at the 61.8% retracement and now we'd expect any move back to the 79.30 to find sellers.

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Intraday Update: The USDMXN has broken channel resistance and the 38% retracement at 8.1359, which should put the 18.47xx level back in play in the day(s) ahead.

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Intraday Update: Bounces in the EURGBP has been very shallow and held to the 38% retracement, which doesn't bode well for the bulls. While below the .8430 we'd expect another test of the trend lows sub .8400.

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Intraday Update: The 113.00 level is key horizontal and ascending trend line support and long term 24% Fibonacci retracement level. A sustained break of 113.00 would usher in a move to the 200dma next.

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Intraday Update: The GBPJPY has reached the 61.8% retracement at 201.32, intraday RSI's are divergent which may suggest a bounce near term, but expect sellers to be above the 202.00 level.

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Intraday Update: The USDCHF is at key resistance at .8909, and a sustained break higher would put the .8960's in play which is near channel resistance.

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Intraday Update: The cable is probing the 1.2900 level, and the next key support levels to watch would be the 38% retracement of the June 27th - 17 July move at 1.2881, and then the 1.2860 level previous high.

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Intraday Update: GBPUSD is at today's "line in the sand" for bulls as today's low at 1.2901 is very close to the March highs at 1.2894. Bulls will not want to see a close below the 1.2900 level this week.

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Intraday Update: the USDJPY has an intraday inverted H&S pattern, but may fail here since this was very strong resistance. 157.40 is the level this pattern may fail.

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Intraday Update: Following the strong UK CPI overnight, the FX:GBPUSD punched through the gartley reversal level at 1.3020's which is the 161% extension, and 88% confluence, however intraday price action today will be key. A close back below the 1.3000 level could mark a near term high for the GBPUSD.

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Intraday Update: Crude is attacking pretty key support here, and could find buyers between the 80.50 and 79.80 level in the coming hours.

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The USDMXN is finding some support at the 50% retracement of the April 2024 lows to June 2024 highs at 17.6200. This is also where the 50dma resides as well. In order to complete an AB=CD move we thought the risk may be back towards 17.4800, however a move back above previous support at 17.8700 which is the June 24th lows would suggest we are ready to make a move...

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Intraday Update: The USDMXN has pivoted off the 50% retracement at 17.63 and is nearing the previous support at 17.88 which should find sellers intraday.

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Intraday Update: The EURUSD is probing some key resistance today at the 1.0916 level, and in order for the pair to make a move towards the 1.0983 127% extension, we will have to get a daily close above the 1.0920 level today.

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Intraday Update: AUDUSD setting up a bullish wedge into the CPI today, and a break below the .6740 would be bearish, but a break of highs today would suggest a move towards the .6800 level next.