AUDUSD Daily Chart – Focus on the breakout level
Breakout above .6624 and then retreat towards it. A large wick at the high suggests the possibility of a pause but only if AUDUSD moves back below.6624.
Only below .6595 would put it back into its old range, making .6595-6624 a support zone.
The 4-hour chart shows .6613 as a local support.
Week Ahead from Newsquawk.com
Next week, highlights include US CPI and Retail Sales data, GDP and the Labour Market report from the UK, while the 1st tally of the Japan Rengo wage talks will be key, as will China inflation data
Week Ahead 11-15th March
Sat: Chinese Inflation (Feb)
Sun: Japanese GDP (R)
Mon: Eurogroup Meeting; Norwegian CPI (Feb)
Tue: NBH Announcement, EIA STEO, OPEC OMR; UK Labour Market Report (Jan/Feb), US CPI (Feb)
Wed: UK GDP (Jan)
Thu: IEA OMR; Swedish CPIF (Feb), US PPI (Feb) and Retail Sales (Feb)
Fri: Quad Witching, PBoC MLF, Japan’s Rengo (labour union) 1st Pay Tally; US UoM Prelim (Mar),
See our Economic Calendar
GBPUSD – Week ahead
Resistances ( Targets ) at 1.30850 and previous high at 1.31450
Supports 1.28200 and 1.27350
It is very difficult to predict exact moves week ahead, but let me try :
Pull back is a Must, but depending is it going to continue a bit more up on Monday and then pull back, or first Pull back and then Up will decide its fate in the near future.
For the Cable to continue surging , pull backs are the way – any extended Rally Up might end up in tears ( like an Irish story )
Weekly Chart
EURUSD DAILY CHART – 1.10 OR BUST?
I remember when a 1% or more daily range in a currency was the norm. Now it seems to be reported as a big event.
As you can see on this daily chart around 1.10 is the current target but a weak EUR showing on its crosses suggests further overall USD weakness might be needed to test it.
On the downside, no key nearby support, and as the chart shows 1.0897 needs to hold to keep a bid.
Bullard said the rise in the unemployment rate rising to 3.9% will “get people’s attention.” That’s the highest unemployment rate in just over two years.
If the unemployment rate ticks up over 4%, it will give comfort to the Fed officials that they’re achieving “a soft landing in the labor market,” he said in an interview with MarketWatch
NFP (the finer details do not matter as much as player reaction)
–
according to RTRS:
Fed gets another reason not to rush on rate cuts
Employers added a robust 275,000 jobs last month, a Labor Department report showed on Friday, handily beating the 200,000 that economists expected.
EURGBP 1 Hour Chart
If you trade EURUSD and/or GBPUSD you should keep an eye on EURGBP.
Currently, blue AT lines are dominating, indicating either GBP strength or EURUSD is not as strong as charts show (same for other EUR crosses) and pointing the risk to the downside
Whatever the case, EURGBP .8500 is the current line in the sand.
I have a video on file how to use crosses to trade spot. Contact me if you would like a copy.
BTC 4 HOUR CHART
I am not sure why I am even trying to analyze BTC as it feels more like a video game than a tradable instrument.
The bounce from a 15% retracement just set a new high above 70000 and then a quick 2000 pip retreat (about 3%)
So just look at the chart, needs to close and stay above its former high just broken while on the downside the 59081 low keeps the risk on the upside.
© 2024 Global View