Can NZDJPY trade toward 66.90 and higher once we get a clean break of this wedge into the Month of April? Given the volatility within the markets currently, this will be interesting to see.
NZDUSD had a nice pop from the open, looking for some strength into 0.64000 levels and just beyond it. There has been wicking on both the upside and downside so a reaction to higher from 0.63000 will boast well for bulls.
NZDUSD found support on Friday around 0.6303 level and had a nice bounce. That low should stay intact and should look to trade into 0,6400 to 0.6420 levels
AUDUSD is currently in consolidation and showing some bullish characteristics. It will be interesting to see if we can get price to trade below 0.6702 for a potential long to and 0.6763. In the event, we trade to 0.6763 before breaking the 0.6702 low, the trade is not valid.
If we trade below 0.6702 we shouldn't see the range low taken out and if it is then the...
The previous week it broke down with speed. Overall the pair is bearish as to how much lower is still to be determined, it can be anywhere between 0.6626 and 0.6583 if we get any momentum towards the downside.
Looking for USDJPY to raid its swing low and trade into the 107.50 area. Since this is the first week of February, I'll elect to look for low hanging fruit to be fulfilled this week.
I am looking for a long around 0.69475. AUDUSD has had a strong rally last week and barely took out may 10th's high. I believe that price would like to sink deeper before it wants to rally again. Longer term I think that price wants to trade towards the 0.7080 level but lets see if price is willing to find support around the 0.7947 area.
If it trades below...
Looking for AUDUSD to trade above 0.69387 into 0.69540, I would like it to trade lower into 0.6905 first but it can still run from its current price point higher. This analysis becomes invalid Thursday Morning New York time.
I am looking to see AUDUSD trade to 0.7454 as this week progresses.
No entries being disclosed as of right now but may disclose them later.
Currently taking the time refine my entries and figuring out how I want to enter and exit.
Looking to take a long on NZDUSD and hold it for possibly longer than a week given the time of year and the distance it has to travel.
Entry: 0.70105
SL: 0.69792
TP: 0.71395
I will look to take something off of my position with 20 pips in profit and let the rest of the position run.
Stop-loss will be moved the breakeven once 50 pips in profit.
There is a chance...
