The Australian dollar significantly weakened against the US dollar (more than 250 items) over the past week. I will go short on AUD/USD. Currently the price has overcome the local support (0.7240). If the price makes retest of this level, I’ll sell. Potential movement - to 0.7200.
GBP/USD kept the 1.2345 support level yesterday. I expect the correction in this currency pair. I would buy after the breakthrough and retest of the local resistance (1.2385). Potential movement - to 1.2425.
The correction is also expected in USD/JPY. I plan to open short positions after the breakthrough and fixing of prices below 117.45. Potential movement - to 116.95. Will there be the correction to 115.00 in USD/JPY, what do you think?
Sales of AUD/USD still continue. I plan to look for entry points in the current trend’s direction. I’ll sell after the breakthrough and retest the local support level (0.7225). Potential movement - to 0.7180.
The technical picture on EUR/USD is mixed for me at the moment. I identified the following local levels: support - 1.0420 resistance - 1.0450 If the price consolidates below this support, I’ll sell to the 1.0370 mark. I’ll buy to 1.0490 in case of the breakthrough and retest of the local resistance level (1.0450).
The pound has overcome the 1.2270 strong support. I’ll sell GBP/USD after the breakthrough and retest the 1.2270 mark. Potential movement - to 1.2225. The demand for the US dollar is supported by the optimistic data on GDP.
Aggressive buying was observed on USD/CAD yesterday. My favorite Price Action pattern, “Internal bar”, has formed on the H1 chart currently.. I plan to buy USD/CAD after the breakthrough and retest the 1.3500 mark. Potential movement - to 1.3550.
Trading activity and volatility on the financial markets is expected to decrease today. This happens due to the Christmas holidays. I won’t open transactions today. I plan to watch the market and come back to trading tomorrow. I identified the following levels on EUR/USD: support - 1.0420, 1.0370 resistance - 1.0465, 1.0500 It seems to me that an interesting technical picture developed on EUR/USD. Will the quotes reach the 1.0500 mark, how do you think?
The yen is under pressure due to weak inflation data. I’m thinking of buying USD/JPY today. I plan to open long positions after the breakout and retest the 117.35 level. Potential movement - to 117.75.
The technical picture on NZD/USD is ambiguous for me at the moment. I identified the following key levels: support - 0.6880 resistance - 0.6910 1. If the price fixes above 0.6910, I’ll open long positions. Potential movement - to 0.6940. 2. If it consolidates below 0.6880, I’ll open short positions. Potential movement - to 0.6850.