GBPNZD – Macro level on instrument breached.
Key Levels: Resistance 1.9553 - 1.9540.
Price Action: Price has failed to stay above key support & resistance.
Notes: I will be considering a short play on this instrument if we trade back into key resistance at 1.9553.
Currently just monitoring for a pullback.
EURAUD – Looking to sell Into strength whilst 1.6250 resistance continues to contain prices lower.
Key Levels: Resistance 1.6250
Price Action: Inside Bar forms at 1.6250 resistance. Market structure breaks on the lower time frames.
Notes: We will consider selling short on any pockets of strength towards resistance, targeting a move back to the low at 1.600 and then potentially lower.
The Set Up
EURAUD – Looking to sell a break and return to key high.
Key Levels: Resistance 1.6120
Price Action: Looking for fake out price action above key high and then quickly trap buyers.
Notes: We will consider selling short on any pockets of strength towards resistance, targeting a move back to the low at 1.5855.
Update: No break below and price has drifted higher. No trade triggered and currently flat.
USDJPY – Look To Buy Into Weakness Whilst Price Remains Above Support.
Trend: Bearish HTF
Key Levels: Support 109.55 intraday
Price Action: Quick spike below and back above key level indicates to me we may bounce short term.
Notes: The bias is bearish overall but I'm expecting some relief rally's at this level, I will be Buying into Weakness whilst price is trading above this important price zone.
Targeting a move to fill gap.