accu pivot points eurusd nzdusd
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DislikedThe EURJPY has rallied from a temporary bottom in 131.60 zone and now it is rallying towards POC. This time POC is a neckline of inverted Head and Shoulders pattern type 2- "Inverted Head and Shoulders leaned" .133.30-20 zone is the zone where we should watch for rejections or a breakout to the upside. EURUSD is highly correlated to EURJPY and that is why we need to watch 2 potential scenarios with EURJPY. If you remember my EURUSD analysis from Friday,...Ignored
DislikedThe AUDUSD has had a relief rally after the RBA decided to keep the rates at 2 %. The RBA indicated at the start of 2015 that it wanted to achieve 0.75 for the AUDUSD pair; currently it has surpassed this achievement as it is currently at 0.7200. As I have also explained 2 days ago on that basis, I doubt the RBA will cut rates further. Having said that, if commodities continue to weaken further, expect AUDUSD to weaken further under free markets. Technically we have 2 POCs. The first POC is 0.7210-0.7225 zone (61.8, descending trend line) and the...Ignored
DislikedThe EURUSD has been ranging in the wake of FOMC decision which is scheduled for 6 PM GMT today. No rate hike is expected this week especially because job growth has been slowed down in recent months.Consumer spending and worse than expected payroll gains also contribute to no rate hike today. Technically EURUSD has failed to close below 1.1010 and that makes it a fake out. Clear and strong close of 4h candle is needed below 1.1010 for further down towards 1.0965 and 1.0900. Failure to break 1.1010 and MACD weakening could be early cues that we might see a correction. 1.1140 zone shows potentially good spot where the EURUSD could reject. Positioning in the zone could be possible on a pullback (H3, WPP ,38.2, historical sellers). Resistance lies above at 1.1190 (X cross - 50.0). If we get a pullback towards 1.1140 and stay below 1.1200, 1.0965 and 1.0900 are targets. {image}Ignored