For those who read Thursday’s briefing you may recall the team highlighted a possible H4 buy zone marked in green at 110.65/110.81. We liked this area for longs due its construction:
• July’s opening level at 110.65.
• H4 support at 110.76.
• 61.8% H4 Fib support at 110.81 (green line).
• Stop-loss orders below 111 will likely provide bigger players the liquidity...
EURUSD reversed off its resistance at 1.1626 (61.8% Fibonacci extension, 38.2%, 50% Fibonacci retracement, horizontal overlap resistance) where price could drop further to its support at 1.1533 (horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur.
USDJPY is approaching its support at 110.70 (61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal overlap support) where price could bounce to its resistance at 112.18 horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching it support at 7.9% where a corresponding bounce could occur.
CADJPY is approaching its support at 84.80 (100% Fibonacci extension x2, 76.4% Fibonacci retracement, horizontal swing low support) where price could bounce to its resistance at 85.43 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 3.6% where a corresponding bounce could occur.
EURJPY is approaching its support at 127.77(100% Fibonacci extension x2, 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where price could bounce to its resistance at 130.20 (50% & 61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 1.93% where a corresponding bounce...
On Wednesday, China’s Commerce Ministry announced it will slap 25% tariffs on USD 16bln worth of US imports, and will begin collecting these tariffs from August 23rd. China said the moves were necessary counter-measures to US tariffs. Demand for the safe-haven yen pulled the USD/JPY beneath the 111 handle in recent trade, consequently exposing a green H4 support...
GPDAUD is approaching support at 1.7404 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swimg low support) where price could potentially rise to its resistance at 1.7614 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is testing its support at 1.71% where a corresponding rise could occur.
AUDJPY is approaching its resistance at 82.75 (61.8% Fibonacci extension, 38.2% & 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse back down to its support at 82.01 (100% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its resistance at...
USDCAD is approaching its resistance at 1.3084 (61.8% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal swing high resistance) where it could reverse down to its support at 1.2967 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal is expected.
AUDUSD is approaching its resistance at 0.7438 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 0.7382 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) could occur.
Stochastic (55, 5, 3) has reversed off its resistance at 96% where a...
US equities extended gains on Tuesday, punching to highs of 25649. A lack of fresh headlines on trade conflict allowed investors to remain focused on upbeat earnings figures.
As a result of yesterday’s move north the July 27 high at 25559 was engulfed, forcing the H4 candles into supply territory at 25685-25535. While this H4 supply will likely be no ‘walkover’,...
AUDNZD is testing its resistance at 1.0985 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 1.0843 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is testing its resistance at 97% where a corresponding reversal could occur.
GBPJPY is approaching support at 143.24 (100% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 145.35 (50& 38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 1.5% where a corresponding bounce could occur.
EURGBP is testing its resistance at 0.8932 (61.8% Fibonacci extension, 61.8% & 76.4% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 0.88911 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (89, 5, 3) has reversed off its resistance at 95% where a...
USDJPY is approaching its support at 110.59 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where price could bounce to its resistance at 112.18 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 4.8% where a corresponding bounce could...
Weekly Gain/Loss: -0.47%
Weekly Closing price: 1.2990
Weekly perspective:
Over the course of last week’s session, the USD/CAD eked out a third consecutive weekly loss after retesting the underside of a recently engulfed weekly support 1.3086 as resistance. In terms of obvious support beneath 1.3086, we do not see a whole lot stopping this market from reaching as...
GBPJPY is testing its support at 144.66 (61.8% Fibonacciu extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 146.95 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is testing its support at 4.8% where a corresponding bounce could occur.
AUDUSD is approaching its resistance at 0.7407 (50% & 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop to its support at 0.7372 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 93% where a corresponding reversal could occur.
