The following videos will help you prepare for the new trading week. Make sure to like and share it if you feel you deserve it. We appreciate all the support. If you have any comments, also add them to this post or to the videos.
Have a safe and wonderful weekend.
EURUSD: EURUSD fell on Friday to a 38.2% target in the American session at 1.1106, but found buyers support there. This will be a key level in the new week as well. Both the European Central Bank and the Federal Reserve will raise interest rates this week, which will help push the pair depending on central bank talk.
USDJPY: BoJ meets this week as well and the tendency is not to change policy but we will see if they lean towards more YCC. On Friday, the pair moved down to test the 50% midpoint of the last move down at 141.149 and bounced back up. Level 141.45 is also a gauge level for buyers and sellers in the new week. 142.07 area is the next bullish target. Buyers are more in control.
GBPUSD: GBPUSD dropped below the swing zone on Friday below 1.2635 and 1.26486. The price moved up to 50% of the move up from the end of June at 1.28658 and stopped in the US session. 50% will be a key metric for buyers and sellers in the new trading week.
USDCHF: USDCHF traded above the 200 hourly moving average on Thursday last week which was the first since July 6th. And on Friday, the price fell to the declining moving average level and found buyers against that moving average level. This increases the importance of moving averages in the future. Having said that, the pair is still below the 2014 low of 0.8656 which should be broken along with other targets including the $38.2% move down from the July 6 high of 0.87235 to give the buyers more control.
USD/CAD: USD/CAD rallied on Friday, extending above 38.2% of the July move to the downside at 1.3204. This level, down to 1.3200, will be a close support in the new trading week for the USD/CAD pair if the buyers continue its upward movement.
AUDUSD: AUDUSD has fallen below 50% of its move up from the July 6 low of 0.67466. The midpoint is within the swing zone between 06737 and 0.67546. Stay lower keeps sellers in check but the 200 day moving average at 0.6714 and the 100 day moving average at 0.6686 looms on the downside as key levels to break below. The battle between the spouses.
EURGBP: With the European Central Bank coming into play this coming week, EURGBP could be of interest. The pair broke above the area that had confined the pair this week, extending to test the 100-day moving average on two separate occasions. Sellers leaned in twice and pushed the pair lower. Friday’s low fell to test and break 38.2% of the range since April high at 0.86455 but stalled near swing low at 0.86357. These lower extremities will be the ground on which EURGBP should remain positive in the new trading week.
Have a wonderful and safe weekend everyone. thanks for your support.
