Short'n'longs

The demand for the euro has sharply grown after the commentary of the ECB head. However, I think that there may be a technical correction on the EUR/USD pair. I expect the price to return to 1.1580-1.1620 and I’ll buy after it reaches this mark. Confirmations and entry points may be found on lower timeframes. The goal for the price movement is 1.1665. A suitable pattern for deals opening can be formed during the next several days.

A Pin Bar PA pattern has appeared on NZD/USD. I don’t exclude a short-term correction. I’ll open shorts after the price fixes below the 0.7425 local support. The nearest goal for taking profit is 0.7390. My risk will be minimized as it will be a countertrend deal.

Bearish sentiment continues to prevail on USD/JPY. I’ll open deals in the current trend direction and sell the pair after it fixes below the 110.75 local support. Potential movement – to 110.25-110.00. I’ll use a trailing stop for this position.

A weak statistics on business activity indices in Germany and the eurozone was published today. I expect a correction on EUR/USD in the nearest future. I’ll sell, if the price fixes below 1.1635. I think that the euro can reach the 1.1580 support level.

I expect a correction on USD/CHF soon. My fav reversal pattern – the divergence of price & MACD – has appeared on the H1 chart. I’ll buy after the price fixes above 0.9480. Take profit – at 0.9520.

I expect a bullish sentiment on USD/JPY. The technical pattern tells us about a possible correction. The price has retained the 110.70 local support, the MACD histogram began to rise. The yield of US government bonds began to grow again. I’ll buy if the price fixes above the 111.35 local resistance. Potential movement - to 111.80-112.00

The Australian dollar was under pressure amid a weak inflation statistics in Australia during the Asian trading session. The price is testing the 0.7920 mirror resistance level now. I’ll sell AUD/USD, if the price fixes below 0.7910. The goal for taking profit is 0.7880.

A correction was observed on USD/JPY yesterday. The yen has reached the 112.00 round level. It seems to me that the correctional movement can continue. The demand for the US dollar is supported by the growth of yields on US government bonds. I’ll buy the pair, if the price tests and keeps the 111.30-111.50 zone. Potential movement - to 112.00-112.25. Potential entry points into the market may appear within a few days.

Aggressive sales were observed on EUR/USD yesterday. That happened due to the Fed comments. The regulator reported about weak prospects of the inflation growth, which is below the 2% target level. Nevertheless, the technical picture is ambiguous now. I don’t rule out a correction in the near future. I highlighted the following key levels and will open positions from these marks.
Support: 1.1715, 1.1680
Resistance: 1.1745, 1.1775
I’ll sell EUR/USD if the price fixes lower the 1.1715 local support. Potential movement – to 1.1680.
I’ll buy it, if the price fixes above 1.1745. Target movement – to 1.1770-1.1775.

The bullish sentiment prevails on GBP/USD. The price has retained the 1.3125 mirror support level. I expect the further growth of the British currency. I’ll buy, if the price fixes above the 1.3155 local support. Potential movement – to 1.3200.

The news background is quite saturated today. 2 important reports are expected. The statistics on GDP of the US and Canada will be released at 12:30 (GMT). The US economy will be in the focus. The latest economic reports from the United States were mixed. At the same time, experts expect that the economic growth will be 2.6% in the second quarter compared to the previous value of 1.4%. Prior to the statistics release on majors, there won’t be strong trend movements. I’ve identified the following key levels and plan to open deals from these marks.

EUR/USD
support: 1.1680, 1.1615
resistance: 1.1725, 1.1775

USD/JPY
support: 110.85, 110.00
resistance: 111.50, 112.10

A quite optimistic data on inflation in the eurozone was published today. I expect the continuation of the upward trend on EUR/USD. I’ll buy this pair if the price fixes above the 1.1745 local resistance. The closest goal for taking profit is 1.1775.

GBP/USD has formed a double top. The key trading range is 1.3100-1.3155. There will be a meeting of the Bank of England this week. It seems to me that the GBP/USD will consolidate in the coming trading sessions. I plan to open positions from the key levels.
I’ll sell it, f the price fixes below the 1.3100 round level. Potential movement - to 1.3050-1.3040.
I’ll open long positions, if the price fixes above the 1.3155 local resistance. Potential movement - to the 1.3200 round level.

A weak statistics from the EU was published today. I expect the correction on EUR/USD. I’ll sell after the price fixes below the 1.1805 local support. The currency may move to the 1.1760 mirror support.

I expect a correction on USD/CAD. The price has retained the 1.2455 local support and it triggered a bullish sentiment. I’ll buy the pair, if it fixes above the 1.2500 round level. Take profit – at the 1.2535 resistance level.

My yesterdays expectations concerning USD/CAD confirmed. I think that the correction may continue. The sharp fall of the oil quotes pressured the Canadian dollar. I’ll buy USD/CAD if it fixes above the 1.2585 local support. The pair may move to 1.2640.

Aggressive purchases prevailed on USD/JPY during the Asian trading session. I expect the growth of this pair. The price is near the 110.90 local resistance. I’ll buy USD/JPY, if it fixes above this mark. Take profit – at 111.30.

Despite the weak ADP report on the US labor market, I expect a correction on EUR/USD soon. A Bearish Engulfing PA pattern has formed near the 1.1900 round level. I’ll sell the pair, if it fixes below the 1.1835 local support. The goal for taking profit is the 1.1800 round level.

A correctional movement is observed on AUD/USD during the last trading sessions. The Aussie is under pressure due to the weak data on the Australian trading balance. I expect a correction of the AUD/USD quotes. I’ll sell the pair, if it fixes below the 0.7920 level. The pair may move to 0.7880.