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
Last week, as expected, EURUSD rallied as expected due to the weakness of USD. However, on Wednesday, the rally was halted and higher prices were rejected with a massive shooting star on Wednesday's close of the daily candle.
However, the move to the downside could not reach the previous low, and
AUDUSD fell hard last week partly due to USD strength and largely on Wednesday due to weak CPI data from Australia. However, AUDUSD formed a hammer on Thursday on daily chart and on Friday bounced upwards, confirming the support present at 0.70 level.
The bounce up on Friday is due to
Last week EURUSD broke below a major support level of 1.1200. This level has been important for quite some time and the pair has bounced from the area many times this year.
By breaking below 1.1200, the risk is to the downside. However we also must consider that US Dollar Index