AUD has had a strong run-up against the CAD and appears to be pausing with consolidation taking the pattern of a rising Bearish Pennant as well as a divergence between price and Momentum. This pause could precede a breakout to retest previous resistance/support levels and previous pivot highs/lows which are in close proximity, so high non-directional volatility...
NZD has been strongly dominating EUR in the previous weeks and is showing signs of testing resistance levels prior to the news releases. It will likely want to retest the previous resistance as support which, if it holds, could lead to a longer term bullish run
The AUD is exhibiting a slowing of its previous bullish momentum and is approaching a trendline support level. A move could precede the upcoming news events giving an opportunity for a quick short trade. This bearish move may continue into a larger timeframe downward trend.
USDSGD is exhibiting hints at a Reversal on the lower time frames with a volume blowoff during the last low pivot spike. Currently price is at the neckline of a Head and Shoulders pattern which is a potential reversal pattern. Important to watch price activity around the trendlines and the 200 MA for fake breaks and retests. Confirmation is required.
The SGD dollar has been strengthening since mid April and may be due for a reversion. A rising Singapore dollar makes exports more expensive, (imports cheaper). Currently, it has annual product exports of $323 billion and imports of $323 billion, giving it a neutral trade balance. Price is currently approaching the lower edge of this cyclic range which may...
USDSGD has been on a recent bearish run and many indicators are showing divergences on the shorter time frames. It does seem to want to test the historical pivot low (1.31576) so could paint lower prices. Patience is required before entering on a confirmation of a bullish trend change/correction as there may be some false starts.
CADCHF has appeared to reverse after a recent downtrend and is finding support on the previous down trendline. It may continue to walk back down along the trendline but this is more likely a retracement in an uptrend.
The AUD generally has had a strong bear run which is showing signs of slowing after reaching extreme deviations from the historical Means. Patience is required for confirmation of reversal to avoid a premature entry.
CHFJPY could potential exhibit some large candles as it breaks out of consolidation and re-tests previous resistance and support levels. Reversals could occur around the news release so consider setting conservative targets until then.
Price has entered a calm before the AUD news release and has been recently exhibiting volatility breakouts after small periods of ranging activity. It will likely want to test the recent pivot high and low of 97.424 and 94.760 respectively, in the coming sessions.
AUD has been strengthening recently and has been ranging in a bullish channel. It is at the low channel edge and will likely want to test it before entering into a Continuation of its previous cycle. Opportunities for Swing Trading if Bullish support holds.
COMPUSD has made a bullish move from consolidation and has a lot of blue sky above it before it hits resistance. The alternative coins can often lead the major ones, but need to have strong fundamentals discerning them from the other coins if they move the other way as a group. Watch volume to confirm commitment to the move.
BTC is exhibiting an Ascending Triangle with higher lows which hints at a breakout to the upside. There will likely be some fake breaks given the degree of indecision on the lower time frames but failure of the previous support and resistance could precede a larger longer-term directional move - Important to observe how price reacts to the pivot high resistance...
The price of Bitcoin is encountering a significant amount of indecision and will be sensitive to any triggers causing it to react in what might be a series of impulse moves to different areas of support/resistance prior to making any committed move in the longer term. Opportunities for some shorter duration trades irrespective of the longer term direction as price...
The Yen has been fundamentally coerced into strengthening against the dollar and appears to have paused into a period of consolidation exhibiting a Head & Shoulders Reversal pattern at the end of a downtrend. There are well-defined support/resistance levels for both short and far targets.
CADJPY is presenting a Triangle breakout opportunity with price consolidating on the leadup to news. The Descending Triangle pattern is traditionally regarded as a bullish continuation pattern. Some well-defined support/resistance levels could be used for first and second profit targets.
AUDCAD's downward momentum has stalled on historical support as AUD news approaches. Watch for a break of the upper channel with conservative targets given the possibility of a non-directional volatility over the news release.
AUD is testing support which could create an opportunity for a bullish long trade if it holds. A failure of support could see an accelerated fall to the next support level.