MMQ_FX

MMQ_FX

EURCAD ranging between the 1.56300 - 1.55500 ranges since last Wednesday, tightening between the two trendlines highlighted. Here we may have a simple range trade with an excellent R:R of 1:6+, if price may bear down from the descending trendline it is currently at, to meet the ascending.

MMQ_FX

Multiple bearish confluences are presented on GBPAUD. First and foremost from a fundamental perspective, we observed an extremely bearish Pound over the course of Monday's trading sessions. Whether the pound's weakness will continue I am uncertain, but in the short term it appears the likely direction given the current state of the Brexit/Coronavirus...

MMQ_FX

GBPJPY consolidating here at a noticeable 4 hour support/resistance zone. JPY appears strong this week and for that reason we may see a drop to the downside from the current consolidation area. By observing the daily timeframe I can also see price has broken the ascending trendline and is holding well beneath. I will be waiting to see how price action develops...

MMQ_FX

Clear downtrend on USDCAD here, after each retracement it appears to just continue its bearish run. But for some strong fundamentals I do expect price to reach the August low, surpassing that - the 2020 low at around the 1.29500 level.

MMQ_FX

GBPCHF has been uptrending from the March of this year. By glancing at the 4H I can see price has appeared to have formed a support at the previous resistance, it Is possible then that we can push up to the last high at around 1.22246. A potential entry point will need to be determined during the London session, I'll only be entering this if R:R is at least 1:3...

MMQ_FX

By observing the D1 TF we can see EURUSD appearing to stall around the 1.20 psychological level. Yesterday's daily closure showed a lovely wick rejection also. EURUSD has been uptrending for some time and we may witness a correction to the previous D1 resistance. 400+ pips potential on this longer term trade.

MMQ_FX

USDCAD - downtrending. Here I have added in the descending trendline to highlight the obvious downtrend. We have seen a retracement to the previous support level from the beginning of the month and I now expect a drop back down to the 1.31400 region (August low). Potential 70+ pip move. Let's see how this plays out over today's NY session!

MMQ_FX

Break and retest of the previous support complete, I now expect a drop to the previous swing low.

MMQ_FX

CHFJPY has broken the ascending trendline and a soft support level. I now anticipate a drop in price to the next support zone at around the 115.500 mid-psych level. Nice 100 pips up for grabs!

MMQ_FX

USDJPY appearing to come to a halt at the 107.000 psychological level/reversal zone. Price appears to be breaking the recent uptrend and I believe we will see a further decline down to the July low at around the 104.100 area. The price action on the Daily timeframe also shows significant indication of a reversal (yesterdays spinning top closure)

MMQ_FX

EURGBP moving in a ranging fashion within the grey Zone. Price has been consolidating over the last day or so after a strong bullish push. Expecting GBP weakness to continue following the recession news, anticipating a break to the upside from the current range. A break/retest scenario is possible, depending on the momentum. Range breakouts are my favourite...

MMQ_FX

Expecting further downside on USDJPY - anticipating a reversal from the zone highlighted. We may see a push up to meet the descending trendline/a rejection from the 200 EMA first - I will be monitoring this closely over the NY session. A nice 200 pip drop to the July low could be achieved if this plays out to my expectations!

MMQ_FX

Last month we saw the break of the all important 106.000 psychological level support zone. Price had recovered from the subsequent drop in price, however I believe we are experiencing a break and retest scenario of 106 and will see further decline back to the previous swing low, at least, if not further. Yesterday's daily closure signified a slowing in bull...

MMQ_FX

EURGBP consolidating over today's session, I am anticipating a break to the downside following a retest of the ascending trendline. Grey horizontal zone highlights an area of significant resistance - support which we could revisit. Lets see how these currencies react at the start of the euro/London session!

MMQ_FX

NAS100 uptrending heavily, currently sitting on a nice level of support. Anticipating another push up to the all time high at around the 11000.00 psychological level.

MMQ_FX

EURGBP somewhat ranging between the 0.91300 - 0.90800 levels since last mid-week. Anticipating a drop down to the previous low at the 0.9000 psychological level. a break of the current consolidation zone and 100/200 EMA's will add selling confirmation.

MMQ_FX

USDJPY downtrending. There is a clear level of support highlighted which I think price will revisit - price is currently in a mini-consolidation phase and so I will be monitoring to see if it breaks out to the downside. With the current Dollar weakness this is seems possible. Closure below the 100 and 200 EMA will be my confirmation for entry. First target...

MMQ_FX

By observing GBPJPY on the daily timeframe I believe we have further upside potential in the pair. PA this week appears extremely bullish and we could see a further push in momentum to meet the previous level of support-turned-resistance zone highlighted. Yesterday's daily close above the 200 EMA add's further confluence. For now just a general observation,...