Forexanalysis
Tgt achieved in GOLDAs posted on 8th April (Gold was waving in a channel pattern which was connected to a bullish pole. The channel has been broken recently and the retest on 15 min tf confirmed a long entry. Gold can shoot upto 1949 in upcoming days.) Here are the results Gold rallied upto 1950 hit all targets and s now consolidating keep an eye a big move is on its way.
USDCHF forming really interesting patternWe have USDCHF forming very good pattern. Here we can look for shorting opportunities if it shows weakness from the trendline. And we also can look to go long after giving bullish signs from the support area. So for thing range we can trade keeping this view in mind
Like and Comment your thoughts on my analysis and Follow for more analysis of various pairs.
USDCAD ANALYSIS ON H4 CHART.Overall, USD/CAD is ranging across. Recently, USD/CAD broke below the key level of 1.28.
The Canadian employment data released last Friday indicated a strong rebound in the jobs market from the previous month’s loss of jobs.
- Employment Change (Actual: 336.6K, Forecast: 132.0K, Previous: -200.1K)
- Unemployment Rate (Actual: 5.5%, Forecast: 6.2%, Previous: 6.5%)
USD/CAD’s next support zone is at 1.26100 and the next resistance zone is at 1.29200.
Look for short-term selling opportunities of USD/CAD.
EURUSD ANALYSIS ON H4 CHART.Overall, EUR/USD is trending downwards. Recently, EUR/USD traded into the support zone of 1.10000.
The European Central Bank (ECB) held its monetary policy unchanged during its meeting yesterday. The central bank sent out a hawkish tone when it announced that it will speed up its QE tapering if the eurozone economic data warrants it to do so, potentially ending bond-buying during the third quarter of 2022.
Currently, EUR/USD is testing the support zone of 1.10000 and the next resistance zone is at 1.12000.
Look for short-term buying opportunities of EUR/USD if it bounces off the support zone of 1.10000.
GBPUSD ANALYSIS ON H4 CHART.Overall, GBP/USD is trending downwards. Recently, GBP/USD broke below the key level of 1.33.
Currently, GBP/USD is testing the support zone of 1.32200 and the next resistance zone is at 1.33800.
Look for short-term selling opportunities of GBP/USD if it breaks the support zone of 1.32200.
EURJPY ANALYSIS ON H4 CHART.Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke the support zone of 127.500.
The eurozone retail sales date (Actual:0.2%, Forecast: 1.5%, Previous: -3.0%) released last Friday indicated a slowdown in consumer spending in January
Currently, EUR/JPY is testing the support zone of 125.000 and the next resistance zone is at 127.500.
Look for short-term selling opportunities of EUR/JPY if it breaks the support zone of 125.000.
AUDUSD ANALYSIS ON H4 CHART.Overall, AUD/USD is trending upwards. Recently, AUD/USD broke the resistance zone of 0.73000.
The Australian Building Approvals m/m data (Actual: 1.8%, Forecast: -2.9%, Previous: 8.2%) released last Friday indicated that consumer spending continues to increase at the same rate during February.
Currently, AUD/USD is trading up towards the key level of 0.74. Its next support zone is at 0.73000 and the next resistance zone is at 0.75000.
Look for short-term buying opportunities of AUD/USD if it breaks above the key level of 0.74.