This currency pair has been falling for obvious reasons.
The European central bank has a prolonged expansionary monetary policy. The German economy is struggling. Overall risk averse market sentiment still prevails, even with some occasional relief news. The result of all these means that only sell opportunities are preferable at
Last week USDCAD rallied towards resistance of 1.3450, but retraced back down without being able to make a new high. Therefore, it is expected to reach for the support zone as shown on the chart below.
It is preferable to wait until the pair reaches towards the support zone. Once there,
Last week the currency pair USDCAD initially rallied but then fell to form quite a negative candle. However, when we look into 4-hour timeframe, we can see a clear uptrend. In fact the pair is currently sitting at the support zone where we can potentially look for signs of support.
AUDUSD fell last week breaking below major support levels but then turned around to form a hammer on the weekly chart. This is a very bullish sign.
When we look at the daily chart, a massive pin bar on Wednesday is followed by a confirmatory bullish candle. All these happened
EURUSD has been stuck in quite a tight trading range for about two weeks now. The currency pair currently sits at the support level of the range. Therefore we can expect the immediate target of the next move to be the resistance level as shown in the chart.
The indecision in
Last Friday, USDCHF exploded to the upside due to upbeat NFP data from USA. Despite this fact, the down trendline is still not broken, and the pair has hit a major resistance level.
Therefore it is very likely that the pair can retreat from the current levels. The near term downside
ZARJPY is an exotic pair not so often traded by retail traders. In the coming week this is a pair we are looking to go long. On Thursday, the pair formed a pin bar, followed by a massive bullish candle on Friday.
In the coming week, the preference is to
Last week was the 4th consecutive week in which AUDJPY has been falling. However, it is interesting that the candle of last week of quite neutral, and it did so with high volume.
When we look at the daily timeframe, we can see that the volume kept on increasing day by
S&P 500, even though dipped as a result of the raising of tariffs to 25% on Chinese goods to USA, it shrugged off and rebounded on Friday and formed a hammer. Thursday's candle was also a hammer.
In addition to that, we can also notice the high volume on those two
AUDUSD tested the important support level of 0.700 on Thursday and and dipped even lower on Friday only to bounce from there and close much above, forming a bullish candle. This is a very bullish sign. In fact, if we look at the chart, we can observe a double bottom