GBPINR Target 108 SpotThis is for self analysis and it is not trading advice. GBP targeting 108 at present and after that we may see it trading at 100.50 again.
Forex market
GBPUSDGBPUSD looked proimising, hovewerr price reversed and aim for a higher interest , was stopped out on this position. But you can see, on Tuesday low of the week was formed.
ANALYSIS UPDATEInteresting week ahead of us, many analyses played out already and some unfortunately not. However it is still only Tuesday, just wanted to post a video to get through the charts with you and share my thoughts.
Have a good day ahead and trading week, will update you at the end of the week and in the mean time I will be monitoring the positions.
T
EURJPY continuationAs you can see, we had two possible scenarios on EurJpy, either for a price to follow the trend - a continuation or break of the low and possible shift in direction of the market which can happen any time as a price is trading very high (recorded in previous video) Price made a nice and weak recovery - pull to the downside on the market open in asian seson - towards our marked buy zone. From there it just pushed back up and with high being taken out we can see that as first market objective completed. Curently we are in an up trend so we will still be monitoring price once it taps buy zone and look for buys or if we get a break of the previous low - look for sells - if. I do not trade that pair a lot so if I don't like it I will stay away.
USDJPY Bearish on monday, July-15There is a potential chance for USDJPY go bearish.
It can make a quick red candles if continues the trend.
#forex #usdjpy
AUDUSD stays on the way to 0.6850 hurdle despite downbeat ChinaAUDUSD prints mild losses while snapping a four-day winning streak and paring the previous gains from a five-week uptrend after China reported downbeat Gross Domestic Product (GDP), Industrial Production, and Retail Sales early Monday. Even so, the Aussie pair defends last week’s upside break of a four-month-old ascending resistance line, now immediate support at 0.6750. The RSI (14) line’s retreat from overbought territory suggests the quote’s additional weakness, but the bullish MACD signals can join the trend line breakout to keep buyers hopeful past 0.6750. It’s worth noting, however, that the pair’s daily closing beneath 0.6750 will direct bears toward May’s peak of 0.6714. Following that, a 61.8% Fibonacci retracement of the June-October downside, near 0.6660, will precede the 200-day Exponential Moving Average (EMA) level of 0.6605 to act as the final defense of the buyers.
On the contrary, the AUDUSD buyers keep the reins beyond 0.6750 and can aim for the 0.6800 threshold for the short term. However, a downward-sloping resistance line from June 2023, close to 0.6850, quickly followed by the late 2023 high of 0.6870, appears tough nuts to crack for the bulls. In a case where the Aussie pair remains firmer past 0.6870, the odds of witnessing a run-up beyond the mid-2023 peak of 0.6900 will be certain, which in turn highlights the 0.7000 psychological magnet for the bulls.
Overall, AUDUSD buyers can ignore the latest retreat unless the quote stays beyond 0.6750.
EURGBP VIEW!EUR/GBP is the forex ticker that tells traders how many British Pounds are needed to buy a Euro. It is one of the most traded currency pairs worldwide because it marries two significant European economies: the European Union (EU) and the United Kingdom (UK). Use the EUR/GBP chart to follow the live Euro-Sterling rate and read the latest news and analysis to inform your fundamental and technical analysis. Our EUR/GBP forecast provides additional insights to help you plan your trades
AUDUSD view!The Australian Dollar recovers its losses as soft US inflation data raises expectations of Fed reducing rates. China's Trade Balance for June came in at $99.05 billion, widening from the previous figure of $82.62 billion. Fed’s Goolsbee stated that the US economy appears to be on track to achieve 2% target inflation.
USDCAD View!The Canadian dollar strengthened against the greenback on Friday, and the yield on benchmark government debt slipped.
The loonie
USDCAD
was trading 0% higher at C$1.363 to the greenback, or 73.37 U.S. cents, after trading in a range of 1.3612 to 1.3638.
Canadian government 10-year bond yields (CA10YT=RR) fell 1 basis points to 3.425%. The yield on similar U.S. government benchmark debt rose to 4.2061%.
U.S. August crude
CL1!
futures rose 67 cents to $83.29 a barrel on Friday.
The value of building permits in Canada fell -12.2% in May, Statistics Canada said.
EURUSD View! EURUSD extends to the swing area
The EURUSD, like the GBPUSD, has stretched to new highs as European traders look toward the exits for the week. The move higher takes the price toward the high from June 2024 at 1.0915 and into a longer swing area between 1.0909 and 1.0918. That area will need to be broken to increase the bullish bias.
GBPUSD View!GBPUSD stretches toward the July 27 high and 1.3000 level
The GBPUSD continues to stretch to the July 27 hi target at 1.2995. That is just short of the natural resistance at 1.3000. The high just reach 1.29898.
There should be willing sellers/profit taking against that level with stops on a move above. Risk is low against the dual technical levels.
EURUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair .
💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
USDCHF USDCHF looks bullish to me, we can get a swing trade here If this swing trade is found, it will be a great opportunity for us.
GBPUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair .
💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
GBPUSD - Weekly AnalysisIt may give a pullback to 1.28951 and go up.
If it is not giving pullback, it may break 1.29946 and continue to go up.
Do not expect to give pullback because of strong uptrend.
If pullback / sell - These confirmation required to go for sell - double top, Candle confirmation and rejections - Trail SL.
Based on economic data also we have to decide the bias.
NZDCAD - TIME TO GO SHORT ?Symbol - NZDCAD
NZDCAD is currently trading at 0.84600
I'm seeing a trading opportunity on sell side.
Shorting NZDCAD pair at CMP 0.84600
I will be adding more if 0.85000 comes & will hold with SL of 0.85300
Targets I'm expecting are 0.83500 - 0.82900
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
GBPJPY - Pre Week Analysis Still its uptrend and trend has not been changed.
We can go to buy above 204.500 where we can see buying pressure.
If Buy SL hits 2 times in the zone of 204.500 - 206.543, Do not go for trade after that in that zone.
Based on every day situation bias can be changed
If it breaks and sustains below 204.500 - After retest and candle confirmation , We can become a seller.
Expecting it would go up based on upcoming economic data.
key target levels including the NZDUSDThe GBPUSD, EURUSD, and USDJPY have all stretched to key targets today as the USD got hit. However, after reaching those target there has been some modest profit taking/selling/buying (dependent on the direction of the pair). The NZDUSD is also in that boat as it returned to the 200 bar MA on the 4-hour chart a 0.61255.
As the clock ticks to the end of the week, traders seem to be leaning. That might not be great for traders riding the USD selling but what it does, is sets the levels going into the new week. If the price can break next week, look for more momentum on the break. If not, look for more USD upside probing to start the trading week.
But it is clear.....Traders are taking a little off the table after the USD run lower today. Find out about it in the video above.
EURUSD: A QUICK RECAPThe 4 hour and the 1 hour time frame has still been making higher highs and higher lows
So the market is bullish and it is expected to do so because it is always advisable to follow the trend
whenever the market starts making moves that are balances and small, then the market would most likely create and take liquidity, make a correction, rebalance and then move in the direction of higher bias.
USDJPY is more Bearish It is slow & clear that market is in range for USDJPY.
Most probably this asset will be bearish.
All eyes waiting for today's news.
#forex #usdjpy #xaussd
EURUSD SETUP TRADE WIH 1:5 RISK REWARDEURUSD SETUP TRADE WIH 1:5 RISK REWARD
A good selling setup detected on EURUSD
It's showing a BEAR MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy BEARISH pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
EURUSD SETUP TRADE WIH 1:5 RISK REWARD
A good selling setup detected on EURUSD
It's showing a BEAR MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy BEARISH pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
USDJPY rebounds from 157.80-75 support confluence, US data eyedUSDJPY pares the biggest daily loss in 10 weeks early Friday as traders await more clues for easing price pressure in the US, namely preliminary readings of the University of Michigan’s (UoM) Consumer Sentiment Index (CSI) and Consumer Inflation Expectations for July. It should be noted that a one-year low of the US Consumer Price Index (CPI) drowned the Yen pair the previous day while mixed Japan statistics and the market’s consolidation favored the quote’s latest recovery. That said, a convergence of the 50-SMA and bottom line of a 2.5-month-old rising wedge bearish chart formation, around 157.80-75, recently triggered the pair’s rebound as RSI took a U-turn from the below-50 zone. However, bearish MACD signals could join the 160.20-30 region comprising highs and lows marked since April to challenge the bulls before directing them to the fresh high since 1986, which in turn highlights the aforementioned wedge’s top line surrounding 162.25.
On the flip side, the USDJPY pair’s inability to defend the latest rebound will shift focus back to the 157.80-75 key support. Following that, an upward-sloping trend line support from late December 2023, close to 157.30 at the latest, will be the last defense of the buyers. In a case where the Yen pair remains bearish past 157.30, its subsequent fall to the previous monthly low near 154.50 and then to May’s bottom surrounding 151.85 can’t be ruled out. That said, the 150.00 psychological magnet will be the final post for the sellers to conquer ahead of gaining the throne.
To sum up, USDJPY remains in a bullish trajectory despite the previous day’s heavy fall. The downside move needs validation from 157.30 and the US/Japan fundamentals.
