The USD/JPY pair initially fell during the session on Tuesday, but continues to find support just above the 110 level. By doing so it looks as if we are going to consolidate overall, somewhere between the 110 level and the 112 level above. With this, I think that short-term trading is about as good as it will get as we are range bound. A breakdown below the 50% Fibonacci retracement level should send this market down to the 108 handle after that. Ultimately if we can break above the 112.50 level…
sibga's Blog
EUR/USD
The main trend is down according to the daily swing chart. However, the closing price reversal bottom and subsequent follow-through rally may be indicating that momentum is getting ready to shift to the upside. EUR/USD in a range the last four days is a pair of Fibonacci levels at 1.0670 and 1.0651, and a pair of 50% levels at 1.0700 and 1.0715. Trader reaction to 1.0715 and 1.0651 will determine the longer term direction of the Forex pair.The new short-term range is 1.0906 to 1.0635. If the rea…
NZD/USD
NZD/USD fell into a range shortly after the March Fed meeting with buyers stepping in on dips below the 0.7000 handle and sellers capping rallies around 0.7050.The cross rates provide a bearish bias that suggests a higher probability of a downside break in NZD/USD. On an hourly chart, a declining channel has encompassed price action over the past week. Channel resistance falls near highs posted earlier today, around 0.7015. A sustained break of horizontal support at 0.6991 would signal a bearish…
AUD/USD
Pair is actually in bearish trend.Range indicator and volatility – Pair has High volatility
High-Low indicator – Pair is in bearish trend past Strength of the currencies . First currency will be weaker as second.
High-Low indicator – Pair is in bearish trend past Strength of the currencies . First currency will be weaker as second.
USD/JPY
Pair is actually in bullish trend.Range indicator and volatility – Pair has High volatility
High-Low indicator – Pair is in bullish trend past Strength of the currencies . First currency will be stronger as second.
High-Low indicator – Pair is in bullish trend past Strength of the currencies . First currency will be stronger as second.
NZD/USD
NZD/USD
The NZD/USD pair initially tried to rally during the course of the week,
High Level 0.79270
Low Level 0.77626
The NZD/USD pair initially tried to rally during the course of the week,
High Level 0.79270
Low Level 0.77626
USD/CAD
The USD/CAD pair looking strong this week
High 1.1266
Low 1.1172
High 1.1266
Low 1.1172