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priceaction113's Blog
GBP/USD
Today’s market hours brings the latest Monetary Policy Statement from the BOE as well as the central bank’s interest rate call, all dropping at 11:00 GMT; a 25 bps rate hike from the BOE has been highly anticipated, but a recent slump in UK economic data has left the odds of a rate hike on the low side, and yesterday’s Markit PMI dropped to 54.0, below the market’s broader expectations and slipping further away from the previous reading, implying a slowdown for the UK could be on the cards for E…
USD/JPY
there was short-term bullishness, but it was not clear that it was going to last. I had no directional bias. I should have had more confidence in the bullish move, which has continued, printing new higher support levels and invalidating the resistance at 112.06. There is also a long-term bullish trend and with the European pairs looking more consolidative, this seems to be at the heart of the action in today’s Forex market. There are good reasons to be bullish, although the ADP data release late…
USD/CAD
Tools used for Analysis:
EMA (14 ), ATR, candlestick chart, Horizontal lines, volume. Support and resistance point.
Charts: 2 weekly and monthly.
Support exists at 1.2797
Resistance exists at 1.3500
Volume: Neutral
Trend: Side-wise
price moving in the range direction after testing resistance area 1.3500
can stay in range direction for the coming weeks.
My expected target on 1st of May for USD/CAD is: 1.3020
EMA (14 ), ATR, candlestick chart, Horizontal lines, volume. Support and resistance point.
Charts: 2 weekly and monthly.
Support exists at 1.2797
Resistance exists at 1.3500
Volume: Neutral
Trend: Side-wise
price moving in the range direction after testing resistance area 1.3500
can stay in range direction for the coming weeks.
My expected target on 1st of May for USD/CAD is: 1.3020
USD/DKK
Tools used for Analysis:
EMA (14 ), ATR, candlestick chart, Horizontal lines, volume. Support and resistance point.
Charts: 2 weekly and monthly.
Support exists at 6.6423
Resistance exists at 7.1150
Volume: Low
Trend: Down
price moving in the downside direction after testing resistance area 7.1150
can stay in downside direction for the coming weeks.
My expected target on 1st of May for USD/DKK is: 6.7472
EMA (14 ), ATR, candlestick chart, Horizontal lines, volume. Support and resistance point.
Charts: 2 weekly and monthly.
Support exists at 6.6423
Resistance exists at 7.1150
Volume: Low
Trend: Down
price moving in the downside direction after testing resistance area 7.1150
can stay in downside direction for the coming weeks.
My expected target on 1st of May for USD/DKK is: 6.7472
USD/MXN
Tools used for Analysis:
EMA (14 ), ATR, candlestick chart, Horizontal lines, volume. Support and resistance point.
Charts: 2 weekly and monthly.
Support exists at 18.2322
Resistance exists at 19.80
Volume: High
Trend: Down
price moving in the downside direction after testing resistance area AT 19.80
can stay in range upside downside direction for the coming weeks.
My expected target on 1st of May for USD/MXN is: 18.2320
EMA (14 ), ATR, candlestick chart, Horizontal lines, volume. Support and resistance point.
Charts: 2 weekly and monthly.
Support exists at 18.2322
Resistance exists at 19.80
Volume: High
Trend: Down
price moving in the downside direction after testing resistance area AT 19.80
can stay in range upside downside direction for the coming weeks.
My expected target on 1st of May for USD/MXN is: 18.2320