Is the Market Posture Turning Bullish?

Is the Market Posture Turning Bullish?

Is the Market Posture Turning Bullish?

EUR / USD

Resistance: 1.0846 – 1.0882 – 1.0946

Support: 1.0746 – 1.0682 – 1.0646

The market posture is bullish and signals for a larger emerging upswing to reach for 10846. Powering beyond 10850+ implies a bull trending drive to 10946+. Any corrective dips that hold near 10700+ will bull flag and keep trade aligned for rallies. A close under 10682* is needed for a reversing downturn.

GBP / USD

Resistance: 1.2535 – 1.2569 – 1.2591- 1.2689
Support: 1.2381 – 1.2238 – 1.2227

The market is against 12569* resistance. A close over 12569* targets a drive to
12700-05. However, Monday’s reversal / back off from 12400*+ alerts for a turn back
to corrective days at 12320- 12300. Narrow congestion days may
setup for another
challenge over 12535*. A close under 12238* is needed to rekindle a sustained bear
trend.upturn for corrections to 12109*.

USD / JPY

Resistance: 112.54 – 113.36 – 113.87

Support: 111.21 – 110.70 – 109.88

The market is short term bearish and targets short term climb to 111.12 A close

under 111.12 is bearish for a drive beyond 109,88 nder. Any dips that stabilize –

112.00 will fight to bear flag. A close over 113.87* is needed to reverse back to upper levels.

AUD / USD

Resistance: 0.7748 – 0.7774 – 0.7800

Support: 0.7666 – 0.7640 – 0.7599

The market posture is short term bullish and showing a preliminary breakout over the previous 7748 swing high.

Trade is poised for rallies and a breakout over 7748 projects a drive to 7800+.

Minor corrective congestion will likely consolidate in the upper half of last Wednesday’s rally to bull flag a staging level for rallies.

A close under 7600* stops aggressive bull signals.

XAU / USD

Support: 1250 – 1251.50 – 1260

Resistance: 1223.30 – 1222.00 – 1211.50

Last week’s rallies signal a bottoming upturn and targets to 124500*.

A close over 124500* alerts for a larger bull climb back just over 1250+.

Be careful for a setback from 123800* on the first test.

Any congestion in the upper half of last Wednesday’s range will bull flag consolidation to setup for rallies.

Only a close under 121150* rekindles bear trend forces.

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