Quick updates of major pairs in between key levels

Highlights:

  • US dollar dampened by growing skepticism of tax reform legislation from dueling plans by Republican lawmakers
  • Retail sales and consumer price index figures due to be released next Wednesday – expected to disappoint given the struggles faced by American retailers
  • CNBC lists the retailers that have filed for bankruptcy protection this year (source)

Here are some quick levels I’d be monitoring for the week ahead.

EURUSD:

 

EURUSDH4
EURUSD 4-Hour
  • Pricing is above the EMA-120, but still below the EMA-60 and EMA-20 over on the daily time frame
  • Price is currently hovering at the 1.16225~ daily price level with expectations of breaking out above
  • Current short term target is reaching the the wedge breakout level at 1.173~

AUDUSD:

AUDUSD 2-Hour
  • After breaking below the daily level at 0.773~, price has been consolidating for approximately 10 days
  • Price has also been held supported on the shorter term time frame at the 0.763~ level
  • AUD has mirrored the performance of gold prices also held supported at 1,266~

GBPUSD:

 

GBPUSD 1-Day

 

  • Pair broke above the 1.33~ daily resistance, but failed to sustain
  • Current daily uptrend also indicates of consolidation in recent month as it made two mini-highs holding resisted at the daily level

USDJPY:

USDJPY 1-Day
  • USDJPY still testing the upper bound range, but lack of ability to sell-off indicates potential further bullish outlook
  • Next Tuesday’s Bank of Japan speech could provide better trend direction indication

USDCAD:

 

USDCAD 1-Hour
  • Not a key pair of focus for me currently
  • Over on the hourly time frame, price is currently resting below two key potential levels for short entries

EURJPY:

 

EURJPY 12-Hour
  • EURJPY currently ranging between two daily levels
  • Price continues to remain supported at the 131.8~ price level

 

 

 

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