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 104.30
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 bearish flag breakout
Note: look for the long-trade entries with the stop loss below 1.21000
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 breaking above the bullish flag.
Note: long with the stop loss below 0.7800
NZDUSD
The pair has bounced off the uptrend line support and is breaking the bullish flag.
Note: look to enter the long-trade with the stop loss below 0.7250
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 1.2600 is needed for the downside continuation.
Note: stay away from the trade entries for now
GBPUSD
The pair is breaking above the strong long-term upside resistance of 1.4000. Look for a continuation higher.
Note: look for the long-trade entries upon a confirmed break above 1.4000 with the stop loss below 1.3980
Bitcoin
The instrument has reached the long-term extension target of 55000 and is pulling back within the rising wedge with support at 46000.
Note: taking profit and looking to buy again
