EURUSD – Looking to sell from resistance
Last week, the EURUSD strengthened modestly as it retraced up on the downtrend it is in. Our recent views on this market of looking to sell from resistance or value areas, has not changed. Traders can look for a price action signal to sell up near 1.1100 – 1.1200 resistance area on intraday or daily chart time frames.
GBPUSD - Sterling/dollar a potential buy from support
The GBPUSD continues to remain stronger than its peers and we are still bullish on this pair whilst its trading above the key support level down near 1.5330. We can look to buy on a daily chart signal near or slightly above 1.5330 this week.
AUDUSD - Aussie/dollar downtrend continues
We are still looking to join the downtrend in the AUDUSD by waiting for a price action sell signal from resistance levels. Traders can watch 0.7450 as well as the 8 and 21 day EMA (exponential moving average) layer for price action sell signals, as well as the key level up near 0.7590 if price makes it back up there in the coming days.
USDJPY - Dollar/yen remains buoyant
The uptrend in the USDJPY is intact and we are looking to buy in-line with it on a pullback to support. We can watch support down between 1.2200 1.2250 for intraday or daily chart buy signals this week to rejoin the uptrend from value.
Gold – Spot Gold looking weak
Gold continues to flounder near the lows of its recent sell-off. We are looking to sell this market on any strength this week,ideally up near 1130.00 – 1140.00 value (resistance area) on either a blind trade entry or price action signal.
Post by Nial Fuller, founder of learn to trade the market.com
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.