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Daily Market Overview and Trade Ideas
TraderTalk | Risk off as Trump hits China and Europe with new threats | easyMarkets 25th June
-USD/JPY new lows in Asia on WSJ article on new restrictions on Chinese tech investment in US
-EUR/USD gives up a little shine on Trump Auto import threat towards Europe
-AUD/USD giving up recent gains on Chinese fears
Daily Trading Ideas
USDCAD approaching resistance, potential for drop!
USDCAD is approaching our first resistance at 1.3384 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.3011 (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is reacting off our resistance we might see a further corresponding drop in price.
See enlarged at: https://www.tradingview.com/chart/USDCAD/Mkcfl6G2-USDCAD-approaching-resistance-potential-for-drop/
USDCAD approaching resistance, potential for drop!
USDCAD is approaching our first resistance at 1.3384 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.3011 (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is reacting off our resistance we might see a further corresponding drop in price.
See enlarged at: https://www.tradingview.com/chart/USDCAD/Mkcfl6G2-USDCAD-approaching-resistance-potential-for-drop/
EURAUD approaching resistance, potential drop!
EURAUD is approaching our first resistance at 1.5774 (horizontal overlap resistance, 50% Fibonacci retracement, Elliot wave structure) where a strong reaction might occur below this level pushing price down to our major support at 1.5454 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching its resistance and a reaction off this level might see a corresponding drop in price.
See enlarged at: https://www.tradingview.com/chart/EURAUD/EAY4M71s-EURAUD-approaching-resistance-potential-drop/
EURAUD approaching resistance, potential drop!
EURAUD is approaching our first resistance at 1.5774 (horizontal overlap resistance, 50% Fibonacci retracement, Elliot wave structure) where a strong reaction might occur below this level pushing price down to our major support at 1.5454 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching its resistance and a reaction off this level might see a corresponding drop in price.
See enlarged at: https://www.tradingview.com/chart/EURAUD/EAY4M71s-EURAUD-approaching-resistance-potential-drop/
AUDNZD approaching resistance, potential drop!
AUDNZD is approaching our first resistance at 1.0779 (horizontal overlap resistance, 38.2%, 50% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where a strong reaction might occur below this level pushing price down to our major support at 1.0602 (horizontal overlap support, 100% Fibonacci extension, 76.4% Fibonacci retracement). A breakout below our intermediate support at 1.0667 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) might provide the bearish acceleration to our major support level.
Stochastic (21,5,3) is also approaching its resistance and a reaction off this level might see a corresponding drop in price.
See enlarged at: https://www.tradingview.com/chart/AUDNZD/u69Qj5aP-AUDNZD-approaching-resistance-potential-drop/
AUDNZD approaching resistance, potential drop!
AUDNZD is approaching our first resistance at 1.0779 (horizontal overlap resistance, 38.2%, 50% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where a strong reaction might occur below this level pushing price down to our major support at 1.0602 (horizontal overlap support, 100% Fibonacci extension, 76.4% Fibonacci retracement). A breakout below our intermediate support at 1.0667 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) might provide the bearish acceleration to our major support level.
Stochastic (21,5,3) is also approaching its resistance and a reaction off this level might see a corresponding drop in price.
See enlarged at: https://www.tradingview.com/chart/AUDNZD/u69Qj5aP-AUDNZD-approaching-resistance-potential-drop/
XAUUSD approaching support, potential bounce!
XAUSUD is approaching our first support at 1263.91 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1285.85 (horizontal pullback resistance, 100% Fibonacci extension, 23.6%, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our support and a bounce above this level might see a corresponding rise in price.
See enlarged at: https://www.tradingview.com/chart/XAUUSD/CdttJ5q3-XAUUSD-approaching-support-potential-bounce/
XAUUSD approaching support, potential bounce!
XAUSUD is approaching our first support at 1263.91 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1285.85 (horizontal pullback resistance, 100% Fibonacci extension, 23.6%, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our support and a bounce above this level might see a corresponding rise in price.
See enlarged at: https://www.tradingview.com/chart/XAUUSD/CdttJ5q3-XAUUSD-approaching-support-potential-bounce/
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