General Forex Updates - page 4
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GBPUSD - We currently have our eye on a short-term sell opportunity around the round number 1.66 if price breaks below the low marked with a blue arrow at 1.65345, and we do not hit the round number below at 1.65 first, we will then be looking to enter at a possible retrace at the round number 1.66.
AUDUSD - Our P.A confirmation sell order has been triggered just below 4hr supply (0.93866-0.93728) at 0.93711, The sellers will need to confirm this area by consuming some or most of the buyers around the low marked with a green arrow at 0.93279, we will then consider setting a pending sell order awaiting a possible return. However if no return is seen, and price keeps declining, we will be watching two levels (0.93053 [A P.A confirmation buy level is set above at 0.93076]…0.92875 [A pending buy order is set just above at 0.92807]).
USDJPY - The close below the 4hr support level at 103.738 was not very convincing to say the least! We initially said in our last analysis, a close below would likely imply selling interest from the weekly supply area at 105.432-104.065. However, the close below the 4hr support level seen is not good enough for us to be looking for shorts at the moment, since this could very well be a fakeout, and a push higher may well be seen later today back into the current 4hr range (103.738-104.264)
EURGBP - There were clearly active sellers around the minor 4hr supply area at 0.79661-0.79586, which pushed price down to the 0.79429 level. This level was formed by the huge bullish bar seen on 13/08/14, for price to move this fast and this high, there were very likely unfilled buy orders left there from pro money, and those left-over buy orders are very likely filled now, as the buyers were seen pushing off of this level back up to the aforementioned 4hr supply area, where once again the sellers are showing interest.
USDCAD - It was reported in the last analysis after the break below of the round number 1.09, that we may see a retest of this level as resistance. This did happen, but trading on the 4hr timeframe, this was very difficult to catch, other than setting a pending sell order, but we try to avoid setting pending orders around round numbers, we prefer to wait for some confirmation before entering.
The 4hr demand area at 1.08441-1.08650 saw a vicious spike through it straight into an important S/D flip area at 1.08324-1.08092, no doubt stopping out any poor soul trying to fade the 4hr demand area!
USDCHF - A break below the minor 4hr R/S flip level at 0.91429 has been seen, price seems to be stalling before our second take-profit target at 0.91177, so we have to be prepared to take some heat on the trade, as price could very likely rally from here, and retest the aforementioned minor 4hr R/S flip level, or with a push, even back up to the 4hr supply area at 0.91892-0.91668 before our second target is hit..
AUDUSD:
Just read this article which says AUD/USD holds key support after uneventful RBA . AUD/USD has barely reacted to a neutral RBA monetary policy statement, and this time has been one of the quieter reactions to the RBA decision in recent months. Analysts from FXWW believe that 0.9270 is an important level after it failed to break last week despite bearish news. So far, AUD/USD still above 0.9270.
Find more details here: paper.li/BlackKnightFX/1368701336#!business
I think that AUD/USD asset will go down.
[ATTACH]14038[/ATTACH]
I think that the price will reach 0.766015 level. After that, the price will go to the level of 0.77563 or further.
[ATTACH]14049[/ATTACH]