AUD/JPY - Price Clears Key Resistance, Strong Uptrend Kicking Off
The strength in this market shows that AUD is bullish across the board. Price pushed above 94.00 key resistance last week and we will be looking out for a price action buy signal after a retracement next week.
GBP/JPY - Price Explodes Higher From Key Support
This pair finally exploded higher on Friday as we predicted in our market commentary a few days ago. This pair may drift back up to retest key resistance near 172.90 next week where we will look out for a bearish price action sell signal to trade any potential move back down to support.
EUR/JPY - Bullish Price Action False Break / Outside Bar From Key Support
The EUR/JPY produced a bullish price action false-break of key support on Friday and printed a very large outside bar. We may see a small dip back to around the 141.00 level next week before the market proceeds to push higher. There is no key resistance until around 144.00 so we would not be surprised to a larger move higher from here over the days / weeks to come.
Gold - Retracement Back To EMAs Overdue, 1310-20 Looks Good For Price Action Short Setup
Gold kept selling off towards the end of last week. 1310-20 looks like a good level to look for a price action sell signals to join the selling in this market, so we will wait for a move back to here next week before acting here...
Hang Seng Index - Price Sitting Right Below Key Resistance, Look Out For Price Action False Break / Pin Bar
Price is sitting right below key resistance on this index and we will wait and see if we get a price action false-break or pin bar from this level next week before looking to trade a move to the downside. Alternativel price may keep pushing higher in which case we would revise our outlook to bullish.
Recommended Content
Editors’ Picks
EUR/USD retreats to 1.0700 after US data
EUR/USD lost its traction and turned negative on the day near 1.0700 in the American session on Tuesday. The data from the US showed that Employment Cost Index rose more than expected in Q1 and provided a boost to the USD.
GBP/USD declines toward 1.2500 on renewed USD strength
GBP/USD turned south and dropped toward 1.2500 in the second half of the day. The US Dollar gathers strength following the strong wage inflation data, forcing the pair to stay on the back foot.
Gold extends daily slide toward $2,300 after US data
Gold stays under bearish pressure and declines toward $2,300 on Tuesday. The benchmark 10-year US Treasury bond yield stays in positive territory above 4.6% after US Employment Cost Index data, weighing on XAU/USD.
XRP hovers above $0.51 as Ripple motion to strike new expert materials receives SEC response
Ripple (XRP) trades broadly sideways on Tuesday after closing above $0.51 on Monday as the payment firm’s legal battle against the US Securities and Exchange Commission (SEC) persists.
Eurozone inflation stable as the outlook on prices gets increasingly muddied
Eurozone headline inflation remains stable at 2.4%. With higher energy prices and improving domestic demand, questions about the direction of inflation become louder.