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EURUSD Awaits Nonfarm, Potential for Price IncreaseNonfarm Payrolls data and U.S. labor statistics have a strong impact on the USD and EURUSD trend. If the data is unfavorable, EURUSD may see a price increase. On the chart, EURUSD is fluctuating around 1.11077 after reaching resistance near 1.11500. The EMA 34 and EMA 89 are supporting the short-term upward trend, indicating that the price may continue to rise after the current adjustment. EURUSD could make a slight correction to 1.10760 before rising again. If support holds and economic news is favorable, the next target is 1.11389.
Long
by Romio_pro
1
GBPUSD: Resistance at 1.32225, Strong Support at 1.30969The chart shows GBPUSD facing strong resistance at 1.32225, tested multiple times but not yet broken, as indicated by the red arrows. Both EMA 34 and EMA 89 confirm that the long-term uptrend remains intact, despite the price temporarily correcting towards the support zone. The two key support levels are Support 1 at 1.30969 and Support 2 at 1.31182, with price responding well, showing strong buying pressure. GBPUSD is likely to fluctuate within the range of 1.3050 - 1.3250 before a clearer trend emerges. If it breaks above the 1.32225 resistance, the pair could continue to rise. The slight decrease in the UK's GDP may put short-term pressure on the GBP. However, the Bank of England (BoE) potentially raising interest rates adds uncertainty and volatility to the GBPUSD pair.
Long
by Romio_pro
EURUSD Faces Resistance, Downtrend ContinuesThe price is fluctuating around the EMA lines, with the EMA 34 above the EMA 89, signaling a short-term recovery but not strong enough to break the main downtrend. A strong support level at 1.10300 has previously caused the price to bounce back. This is also the level that may be revisited if the downtrend continues. The 1.1158 zone is a strong resistance. If the price fails to break through this area, the downtrend is likely to persist. The RSI is at a neutral level, near 50, indicating that the market is balanced, with no signs of being overbought or oversold. EURUSD could continue to decline towards the support level before retesting the resistance. If it fails to break the resistance, the downtrend may continue in the near future.
Short
by Romio_pro
1
USDJPY Tests 143 USD Resistance, Sell Opportunity AheadThe market is influenced by the monetary policies of the Bank of Japan and the Fed, along with U.S. interest rate updates and global economic conditions, continuing to cause volatility for this currency pair. On the 4-hour USDJPY chart, the price is trending downwards, moving below both the EMA and SMA 20, signaling strong selling pressure. The resistance near 143 USD has been tested several times but remains unbroken, indicating strong selling forces at this level. If the price fails to break the 143 USD resistance, USDJPY is likely to continue its downward movement, heading toward the 140 USD level. This could present a potential selling opportunity if the downtrend persists.
Short
by Romio_pro
USDJPY: "Death Cross" makes sellers optimisticUSDJPY ends a four-day decline and rebounds from its lowest point in a month as traders start the US inflation week with mixed feelings, especially after a disappointing employment report on Friday. Sellers are in control Despite the brief pause to recover from an ascending support line from late December 2023, the "Death Cross" on the moving averages and a possible bearish cross on the MACD suggest that sellers remain dominant. Technical levels to watch Given that the RSI is nearly oversold and the market is adjusting its previous movements, USDJPY might continue its recent recovery towards a resistance zone from a month ago, around 143.45-60. After that, a downward-sloping resistance line from early August, near 146.60, will challenge buyers before they can take full control. If they succeed, the 50% Fibonacci retracement level from July 2023 to 2024, around 149.60, and the 200-SMA level at 151.05 could attract more buying interest. On the other hand, sellers might look for a daily close below a long-term rising support line, around 141.90. They should also watch for the late 2023 low around 140.25 and the 140.00 level, which could provide additional support before aiming for the mid-2023 low of 137.25. What next? The USDJPY pair might see a rebound as the market consolidates before the important US inflation data is released on Thursday. However, the bearish trend will continue unless the price stays below the 200-SMA.
by MTradingGlobal
NZDCAD 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.
Long
by okako_trading
EUR/USD Near 1.11400 Resistance: Breakout or Pullback?The chart shows an upward trendline with EUR/USD approaching the key resistance level of 1.11400, where selling pressure may arise if the price fails to break through. The crucial support currently lies around 1.10500, a level to which the price might retreat if it fails to surpass the resistance. EUR/USD is testing this resistance zone, with the potential for a breakout if buying pressure strengthens. Otherwise, the price is likely to retest the rising trendline.
Short
by Romio_pro
Resistance at 0.67415: AUDUSD at Risk of a Deep DeclineThe 4H chart of AUDUSD shows the price facing a significant resistance zone around 0.67415, where the EMA 34 acts as a dynamic resistance. EMA 34 and EMA 89 play crucial roles in the short-term trend, with the price fluctuating between these levels and possibly facing downward pressure if it fails to break through the resistance. A key support zone is clearly marked at 0.66800, and if the price breaks this level, it is likely to continue its deeper decline. In terms of news: The Australian Dollar is often affected by economic indicators from China, especially production and export data. Any negative factors from China's economy may further weaken the AUD.
Short
by Romio_pro
GBP/USD Testing 1.31700 Resistance: Rise or Pullback?The chart shows GBP/USD was in a downtrend within a price channel but has now recovered and broken out of it. Key support lies around 1.30800, which the price might revisit if it fails to break the current resistance. Key resistance is at 1.31700. If this level is broken, GBP/USD could continue its upward trend. If the price breaks the 1.31700 resistance, investors may consider buying, with a near-term target of 1.31464 or higher. Regarding news: Economic data from the UK and US will have a significant impact on this pair. Interest rate decisions and employment reports from both countries will be key short-term drivers.
Long
by Romio_pro
EURUSD: Sellers stay optimistic, watching 21-EMA & US dataThe EURUSD pair has lost momentum after briefly recovering from the 21-EMA support level. Traders are now focused on upcoming US job reports, including the Initial Jobless Claims, ADP Employment Change, and ISM Services PMI. This cautious mood is making it hard for the Euro to gain traction. Multiple catalysts lure Euro bears The EURUSD pair has been stuck in a trading range for a week, with the RSI (14) showing no strong trend. However, a bearish chart pattern and bearish MACD signals keep sellers hopeful. Optimism about strong US data and concerns about an economic slowdown in the Eurozone add to the negative outlook for the Euro. Technical levels to watch EURUSD pair’s repeated bounces of 21-EMA support of 1.1050 highlights the numbers as a tough nut to crack for short-term sellers. Following that, a three-month-old resistance-turned-support near 1.0980 will lure the bears. In a case where the quote remains bearish past 1.0980, a gradual decline toward the rising wedge confirmation’s theoretical target near 1.0700 can’t be ruled out. Meanwhile, EURUSD buyers need validation from 1.1080 to regain control. Even so, the aforementioned rising wedge’s bottom line surrounding 1.1210 will be a crucial resistance to watch for the bulls. Following that, the pair’s gradual run-up toward the previous yearly high of 1.1275 appears more likely. Looking ahead… A slew of US employment and activity data will decorate Thursday’s economic calendar and direct EURUSD traders. However, the quote’s failure to cheer the US Dollar’s weakness can please sellers should the scheduled statistics favour the Greenback’s run-up by dimming the odds of heavy Fed rate cuts.
by MTradingGlobal
AUDUSD Testing Support: Resistance at 0.6750AUDUSD is testing the support level around 0.6680, an important level previously validated. If the price holds above this support, it may rise towards the 0.6750 resistance, though the EMA 34 and EMA 89 could limit the upward move. If the price holds above 0.6680 and rebounds, traders may consider opening buy positions with a target of 0.67097. Regarding news: PMI reports, unemployment data, or interest rate decisions from the RBA and FED could impact AUDUSD. If the U.S. economy shows positive signs, the USD could strengthen, putting pressure on the AUD.
Long
by Romio_pro
USDJPY Deepens Decline: Support at 144.500, Target 143.000On the 3-hour chart, USDJPY is declining, approaching a key support level at 144.500, a level that has been tested and may react in the short term. If the price tests this support and doesn't recover strongly, it is likely to continue its downtrend with the next target at 143.000. The 89 and 34 EMAs act as resistance levels at 145.776 and 145.718, reinforcing the downward trend. RSI at 42.88, near the oversold zone, indicates the price may drop further before a slight upward correction. Investors may consider selling if the price breaks the 144.500 support, with a short-term target at 143.000. Regarding news: Inflation data from Japan and the U.S. will impact USDJPY. If Japan's inflation remains low, the Yen could weaken further.
Short
by Romio_pro