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 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.