magbrr

magbrr

www.tradingview.com

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bit.ly GBPUSD has been range bound since the 16th of January 2017 (where it formed what looks like a double bottom with a 6th of October 2016 low) and has been trading in a range ever since. However current price behaviour indicates reaction at very strong resistance level and we will really depend on price action around technical levels to guide our decisions...

magbrr

bit.ly EURUSD is proving to have traced out the end of an initial corrective move and as such our weekly outlook is slightly bullish. We will take long (upside) opportunities on daily price close above downward sloping trend line shown with a target of 1.07628 first and at which point selling pressure might resume again to bring price back down over the coming...

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bit.ly #AUDCAD price structure appears to have corrected today forcefully to reinforce our earlier bullish bias. Revised price structure interpretation shown here. See chart!

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www.tradingview.com #AUDCAD outllok is bullish in the near term. Potential further expansion swings detected and possible into targets of 1.02560 area

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#AUDJPY has failed to break-out of wedge pattern. Possible complex correction in place as no further expansion swings are traceable at this point. Our view is to close-out any positions, stand-aside and wait for next price confirmation

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www.tradingview.com Watch out for break out in the AUDJPY pair per the chart shown

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www.tradingview.com EURUSD levels to watch.

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www.tradingview.com Folks my outlook is still benignly short for EURUSD pair. This is because from the analyses shown unless 1.06077 area (purple arrow) is taken out by daily candle close we will still be looking out for short entries below 1.05261 area (blue arrow). Above 1.06077 zone should bring 1.06790 area (gold arrow) into focus.

magbrr

Our mid-day view of the AUDJPY is still quite bullish as long as prices are well above the 9th of February low of 85.359 and above 50-day moving average (white whip line) as shown on daily price chart below. However on 4-hour chart, price has penetrated the 50-day moving average but further downward momentum is greatly limited at the moment and hence our intra-day...

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bit.ly Our intra-day outlook for NZDUSD is currently neutral at this point. Price is currently forming under 50-day moving average but downside momentum is greatly inhibited with what looks like a bullish hammer candle forming. We prefer to see daily price close below 0.71353 minor resistance turn support upon which 0.70066 support area will be next target....

magbrr

www.tradingview.com EURUSD downward pressure is intensifying. However 4 hour candle close above red-line support turn resistance level of 1.05687 will invalidate downward pressure for now. However as long as 1.05687 holds, downward pressure is still expected. Penetration of 1.0520 on daily close will bring deeper fall of the EURO to pairity over the coming months.

magbrr

bit.ly AUDCAD still looks very bullish in structure. We appear to be inside the start of a wave (iii) of 5 of II of a possible larger Y which technically speaking is a very bullish signal. Nevertheless, we await a daily candle close above 1.01345 to set pace for 1.03663/1.04365 target zone. More aggressive entries could be after the daily close of current candle...

magbrr

bit.ly Very unconventional levels for EURUSD this week. Daily price close above yellow zone is upside trigger while daily close below orange zone is downside trigger. Green and blue lines/zones are upside targets while purple and red zones are downside targets. see above link for actual chart

magbrr

www.tradingview.com Technically speaking the EURUSD is severely under pressure to go any higher (see negative deviation bewteen MACD and price shown). And to be quite honest for it to be in any confirmed decisive impulsive move upwards, it needs to have a daily close above the August 2015 high of 1.16947. This is the scale of the bearishness of this pair that we...

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AUDJPY seen sharp reversal today but movement is perceived as wave 4 of a possible (5) still unfolding. Uptrend remains intact for now

magbrr

www.tradingview.com Now EURUSD is breaking key support shown in purple. Our intraday outlook is now short as short trigger has been activated. We have an extensive movement. Target is blue line as shown in chart.

magbrr Updated 

Fundamentals : US economic data for June and July have shown key data coming in relatively flat relative to the previous reading. Core PCE, personal spending and personal income for June came in at 0.1, 0.2 and 0.4 respectively against previous readings of 0.1, 0.7 and 0.4 respectively and for July came in at 0.1, 0.3 and 0.4 respectively against previous...