What Charts We're Watching
AUDUSD is looking great, EURUSD has broken the previous range but is ranging again (doh), and GBPUSD is still holding support.
AUD//USD
1D Chart
AUDUSD is back on the bull market, having closed three days consecutively bullish. We are still looking for price to break up of the 0.7546 swing high to confirm a further bullish move.
1H Chart
Price is holding in the trading range between 0.74780 support and 0.7546 resistance.
EUR//USD
1D Chart
Price is holding below the 1.1660 pivot and the RSI is holding bearish, signalling downside. Yesterday closed bullish, signalling some indecision.
1H Chart
Price is holding in a fresh trading range, with previous support turned resistance & 1.15800 now acting as resistance.
GBP//USD
1D Chart
GBPUSD is holding support around 1.37300 but the pair is still in a mid term bearish cycle which started from June 2021.
1H Chart
Price has broken the support trendline but is still holding 1.37300 support. If this support holds, we are still looking for upside to 1.3900. Alternatively if the support breaks, we will look for continued downside into the 1.3600 level.
USD/CAD
1D Chart
USD/CAD is channelling to the downside, but is currently resting around support. Price has formed a large indecision candle yesterday.
1H Chart
Price has dropped back into a range and is approaching resistance again. Until price action is a bit clearer we will stay out of the market.
XAU/USD
1D Chart
Price is holding in a wedge and is approaching the resistance trendline. We are still gold bearish, looking for a move into the support trendline.
1H Chart
Price is in a bullish structure & we anticipate continued upwards pressure into the 1830 resistance zone as long as price is above the 1H support trendline.
