EUR/USD is testing the 1.0575 "mirror" support level. I’d buy it after the breakout and retest of the 1.0585 local resistance. Potential movement - to 1.0615. I’ll accompany the position with a trailing stop. The deal will be short-term and speculative.
A very busy news flow on the US economy will take place today. D. Trump will hold a speech today at 21:00 (GMT). I plan to open short-term speculative positions. AUD/USD is testing the 0.7670 support local level at the moment. I plan to open a short position after the price fixes below this mark. The next target for taking profit is 0.7650. I’ll accompany the position with a trailing stop.
Sales dominate on USD/CHF now. The local support is at the 1.0055 mark currently. I plan to open short positions after the price fixes below this level. The transaction will be accompanied by a trailing stop. The next target for taking profit is 1.0025.
Yesterday was full of important economic reports from the US, as well as the Fed statements. Most of the statistical data exceeded the market expectations. I expect the growth of demand for the US dollar today. BEOVB pattern of my favorite Price Action method has formed on EUR/USD. I’ll open short positions. Potential movement - to the 1.0500 round level.
There is a downward trend on GBP/USD at the moment. The pound remained under pressure due to a possible referendum in Scotland. I plan to open positions in the current trend direction. I’ll sell GBP/USD after the price consolidates below 1.2350. Potential movement - to 1.2300.
The data on the GDP of Canada will be released today at 13:30 (GMT). There was a sharp drop in retail sales, that’s why the statistics may be weak. Nevertheless, I won’t open transactions before the report. I identified the following key levels on USD/CAD: support - 1.3300, 1.3195 resistance - 1.3355 I’m going to watch how the price will react to these levels and enter into the market after releasing of the statistical data.
There in an upward trend on USD/JPY at the moment. The demand for the US dollar is supported by expectations of raising interest rates by the Federal Reserve. FedWatch Tool is at 66.4%. I’ll open transactions in the current trend direction. I’d buy USD/JPY after the price fixes above 114.20. Potential movement – to 114.80.
The yen weakened against the US dollar during this week. I expect a correction on USD/JPY now. A very strong reversal formation, the divergence of the price and the MACD histogram has formed on the market. I’ll sell the pair after the price fixes below 114.10. Potential movement - to 113.50.
The Australian dollar significantly weakened against the US currency yesterday. Falling of quotes on AUD/USD has exceeded 100 points. The MACD suggests a possible correction. However, the demand for the dollar remains at a high level. I identified the following levels: support-0.7545 resistance - 0.7575 I will sell AUD/USD if the price fixes below 0.7545. Potential movement - to 0.7500. A correction to the 0.7610 resistance level may take place if the price fixes above 0.7575.
There is a mixed pattern on EUR/USD at the moment. The demand for the US dollar is supported due to a possible rising of interest rates during the Fed's March meeting. At the same time, there can be a further correction as well I identified the following key levels: support - 1.0590 resistance - 1.0620 I’ll sell EUR/USD, if the price fixes below 1.0590. Potential movement - to 1.0550. I’ll open long positions, if the price fixes above 1.0620. Potential movement to 1.0670.