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Daily Market Overview and Trade Ideas
Carney Smashes GBP as BOE rate hike hopes Sink -20th April
-AUD Intraday Key Reversal
-Russia Sanctions hurt stocks and risk appetite
-GBP/USD crushed on dovish Carney
Daily Trading Ideas
AUDJPY approaching support, watch for breakout!
AUDJPY is approaching our first support at 82.69 (horizontal overlap support, 38.2% Fibonacci retracement). A breakout below this level might trigger a strong reaction pushing price down to our major support at 81.90 (horizontal overlap support, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish view.
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
NZDUSD testing support, potential bounce!
NZDUSD is testing our first support at 0.7244 (horizontal overlap support, 61.8% Fibonacci retracement). A strong bounce could occur above this level pushing price up to our major resistance at 0.7375 (horizontal swing high resistance, 61.8% Fibonacci extension).
Stochastic (55,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
USDCHF testing resistance, potential drop!
USDCHF is testing our first resistance at 0.9714 (horizontal overlap resistance). A strong reaction might occur below this level, pushing price down to our major support at 0.9647 (horizontal pullback support) which coincides with our long term ascending support line.
Stochastic (89,5,3) is also approaching our major resistance and we might see a corresponding drop in price should it react off this level.
EURUSD approaching support, potential bounce!
EURUSD is approaching our first support at 1.234 (horizontal overlap support, 61.8% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 1.2395 (horizontal swing high resistance, 100% Fibonacci extension).
Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our major support where a bounce off this level might be a good precursor for a potential rise in price.
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