Daily market overview EURUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, GBPUSD, BITCOIN
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USDJPY
The pair is testing 105 resistance for a complete upside reversal. A confirmed break above is required for an upside reversal to target 107 and we had it. The 104.50-105 zone is on the retest now.
Note: look for the long trade entries with stop loss below 104
EURUSD
The pair is breaking above the long-term falling trend line 1.2000 and is pulling back for the retest. A break above 1.2170 is needed for the upside continuation. We have a falling wedge breakout after the bounce retest.
Note: look for the long-trade entries with the stop loss below 1.1950
AUDUSD
The pair is breaking above a strong upside resistance of 0.7350 for a complete reversal higher to 0.7800. near-term soft support for an uptrend is 0.7500 and lower from here is 0.7350-0.7400. We are testing the bullish flag.
Note: stay away from the trade entries for now
NZDUSD
The pair has formed an Inverse H&S formation for a complete upside breakout reversal and is breaking a neckline 0.6780 for a continuation higher. It is in the triangle consolidation for a new swing higher.
Note: looking to add to a new long trade on the bounce-off support 0.7160 which is happening now. Stop loss below 0.7160
USDCAD
The pair is pulling back to retest the 1.2850-1.2900 zone. Only a break above the 1.3000 will invalidate the downside continuation, and the pair is rejected again from 1.2850. A break below 1.2700 is needed for the downside continuation.
Note: stay away from the trade entries for now
GBPUSD
The pair has broken above the strong upside resistance of 1.3100 and is going for a 1.4000 supported by 1.3450-1.3500.
Note: look for the long-trade entries with the stop loss below 1.3650
Bitcoin
The instrument has broken above the 24000 and is going for a 50000 target supported by the 30000-31000 zone which was on a test and the instrument bounced
Note: taking profit and looking to buy again
