Important: I use New York close charts so that each 24-hour period closes at 5 pm EST.
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I’m still in the bullish camp for EURUSD, unless it breaks the trend line as the support line. If it reverse from 1.1343 area and confirm I will enter my long for the target of 1.1544. We got Mr Deraghi talking Eur down again because of some bad data from Eur. Most of the time it’s not important that what they say but it’s very important that how the market will act.
One of my favorite entering to the market is engulfing candle stick patterns around support and resistance. As you can see GBPUSD made one on Friday exactly at the resistance area around 1.2921. There is a possibility of touching the channel top again but with a good risk management you can enter from here.
It seems to be a hard way to climb up after a sharp falling, but USDJPY is making it’s way through the highs again. I got 110.36 as its next stop. as a price action analyst i will enter trades with confirmed rejection from any support and resistance. I prefer to short this pair again under some circumstances. Rejecting from 110.36 definitely confirm the down trend for a while.
I don’t know why but my lizard brain keeps telling me that this time the trend line can’t support USDCAD from falling. Maybe oil price moves up more and make my guess come true. But we are not about to gamble our money on some guessing. Let’s watch that what happens in the following days.
I’m really looking forward to find a bottom price for AUDUSD. But as you know AUD is highly attached to the commodity prices specially Gold. it’s over 75% correlated with Gold prices. I’m in the bearish camp for this one but cautious to make my shorts, that’s why i make a tight stop.
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