Still Bearish?

Still Bearish?

Still Bearish?

EUR / USD

Resist: 10824,10844,10882,10908 ST Trend: Up
(10784)Support: 10744, 10721, 10688* Obj: 10908 TRP: 106.30
The market posture is bullish and signals for a larger emerging upswing, hinting for a trending drive to 10908+. Stable action over 10800+ will encourage follow through rallies. A full retraction of yesterday’s range is needed to flip trade to a correction phase, but a close under 10630* is needed for an outright bear downturn.

GBP / USD

Resist: 12535, 12569, 12591, 12650+ ST Trend: Up
(12471)Support: 12379-65, 12342, 12238* Obj: 12650 TRP: 123.45
The market is bullish and yesterday’s surge higher signals for a larger bull wave that holds potential to stretch for 12650. Trade is poised for rallies today. Any corrective dips will likely hang in the upper half of yesterday’s range is bull forces are in control. Only a close under 12345* highlights a reversing turnover.

USD / JPY

Resist: 112.54, 113.36, 113.87+ ST Trend: Down
(11143)Support: 110.70, 109.88, 108.42* Obj: 10842? TRP: 113.87
The market is 
short term bearish and poised to attack for a breakout under previous swing lows from recent months. A close under 110.70 signals for a drive to 10988-. We may see trade struggle around the old swing lows and ease for minor corrections / congestion, but tight consolidation will keep trade ready for rallies. A close over 113.87* is needed to turn the trend back up.

AUD / USD

Resist: 7748, 77774, 7800+ ST Trend: Up
(7658)Support: 7599, 7570, 7634* Obj: 7800 TRP: 75.99
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 7599* stops aggressive bull signals.

XAU / USD

Resist: 125150-125450, 126490 ST Trend: Up
(124659)Support: 123900, 123260, 122730* Obj: 1254 TRP: 1227.30
The market is triggering a bull upswing that calls for rallies to challenge into the previous swing high over 1250+. Closes over 1254 and the 126490 high each give bull signals for a drive to 1280. Any corrective dips should hold within yesterday’s range to maintain strong bull forces. A close under 122730* alerts for a reversal downturn.

 

 

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