Daily ChartH4 ChartA short setting up here is possible for me, ideally I would look to engage with short plays on a break below 7500.58.
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WEEKLY CHARTUSDCAD is high on my watchlist at the moment to look for long opportunities.
DXY appears to have more upside from what I can see and USDCAD is pulling into key areas to start hunting longs. The key areas are 1.34460 and 1.3590. We will follow structure into these levels and look for a bullish reaction to profit from. USDJPY - H4Technical levels to watch 132.60 My focus is on trading USDJPY to the upside, so I'm interested in looking for buying opportunities around levels 132.63 and 130.5. Until I see a fundamental change, I am bullish on the dollar, and after the Bank of Japan left its ultra-low interest rates unchanged at its March meeting, I like this pair to the upside. USDCAD - H4Technical levels to watch 1.36690 & 1.35100 We are currently experiencing a pullback in USDCAD and I am hunting for buying opportunities at the technical levels shown on the chart above. AUDUSD - H4Technical levels to watch 0.6707 & 0.68320 I am watching Audusd closely for a potential move to the downside, we are currently sitting at one of the levels I am watching for shorts. New lows are possible if we get the reaction I'm looking for. EURUSD - H4Technical levels to watch 1.0772 & 1.0906 The European Central Bank's policy statement is due on Thursday, and policymakers are expected to raise interest rates by another 50 basis points. Still, the bloc's central bank might adopt a more dovish tone due to the ongoing risks to financial stability. Probably wont be trading this pair until after Thursday but the levels I like are noted on the chart above. GBPUSD - H4Technical levels to watch 1.2216 My plan on Gbpusd is to sell on pullbacks, and the levels I'm willing to try short at are 1.2216 & 1.240. Not my favourite pair to short as it seems relatively strong compared to Aud, Jpy, Cad etc. NZDUSD - H4Not something I've looked at in a while but defiantly has added its self to my watchlist going forward. The levels I'm willing to look for shorts are 0.626 and 0.6362.
I'm sticking to my dollar bullish stance and these are the instruments I'm willing to trade. USDJPY H4Technical levels to watch 131.00 USDJPY has now broken this bearish channel, putting me on alert for long plays. A resurgent dollar weighed down the yen as stronger-than-expected US jobs data indicated the Federal Reserve had more room to raise interest rates. Market Update BelowUSDCAD H4Technical levels to watch 1.320 & 1.350 It's not ideal price action at the moment, but there are two scenarios for me to get long, either a sweep of 1.320 or a breakout of structure and retest of 1.350. Market Update BelowGBPUSD H4Technical levels to watch 1.230 There was already pressure on sterling due to the Bank of England's perceived dovishness compared to the Federal Reserve. The Rate was raised by 50 basis points to 4% on Thursday, its highest level since late 2008. The central bank, however, believes inflation may have peaked, signalling the end of its tightening cycle. We look to be seeing the reversal in the GBPUSD and id be interested in selling on any pullbacks. Market Update BelowAUDUSD H4Technical levels to watch 0.700 A key swing point at 0.71367 has provided a nice rejection and break in structure. I am now looking to get inline with the market so any pull back to 0.700, I will look to sell. Market Update BelowEURUSD H4Technical levels to watch 1.08 EURUSD also breaking to the downside and I'm looking to sell resistance around 1.08 Market Update BelowUSDCHF H4Technical levels to watch 0.930 We want to see a flow into the Dollar before getting involved. In order to get interested in USDCHF, I would need to see a break out of this Bearish channel and retest of 0.930 Market Update Below |
AuthorDominic James Archives
April 2024
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