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This may be giving EUR support and helping the risk on mood heading into the weekend. E
BTCUSD – Bitcoin
BTC lost that sharper angle Up trend and now we have Supports to watch:
112.050, 110.820 & 108.900
Resistances: 115.730, 116.750 & 117.950
As long as it can hold above 108.900 it would be in a position to renew the Rally.
Otherwise it would get into a correction that might take several months and levels as low as 87K
XAUUSD – Gold
Gold is closing this week pretty Bearish.
Unless it manages to close it above 3350.00 , it should get into a correction phase – to start with…
Close below 3320.00 would give it a clean slate for attacking supports at:
3245.00, 3120.00 & 3080.00
It is struggling to make a new high already for 3 months and Pattern indicates that it should go lower for now.
EURUSD Daily
We are slowly closing this week, but as EURUSD is in question nothing significant happened actually.
No new Lows, no new Highs…
Technically EUR is still in a Bullish mode, but next week might be a game changer.
Unless we see it breaking above previous high at 1.183502 and subsequently 1.18550 it is going to turn South towards support at 1.16250 and even to test the Uptrend channel trend line at 1.14850
Now close tonight above 1.17350 would be Bullish for Monday, but do not forget how many things can happen over the weekend and to directly influence the market.
Overall mode is Bullish on all the bigger time frames, so as long as it stays that way we look Up, but watch it very closely for any failure early in the next week.
EURUSD
Risk shifts below 1.1750…A reluctant move to the downside with firmer EUR crosses causing it to lag USD gains elsewhere.
This follows the failure 1 pip shy of 1.1790 yesterday.
1.1710 is key support… below would break momentum for a run at 1.18 and expose 1.1679… to expose 1.1710 (stops?), firmly below 1.1730 is needed.
EURUSD 4 HOUR CHART
GBPUSD
If you are looking reasons behind a weaker GBPUSD look no further than its failure to hold 1.35_and offsets from a firmer EURGBP.
So far, support around 1.3461 is being tested.. a firm break would put 1.3402 on the radar.
Back above 1.3512 would be needed to break the current down momentum.
GBPUSD 4 HOUR CHART
Using my platform as a heatmap shows…
A Friday squeeze on USD shorts with
… the dollar trading higher with offsets from firmer EUR crosses providing some of the demand while EURUSD lags (but for how long after failing to hold above 1.1750
Gold is down as it remains on the defensive after its failure to hold above 3400
US stocks are steady
US bond yields are up slightly
Light US calendar
Bitcoin is down
7 days until the US trade/tariff deadline
Since the middle of April, AUDUSD has been moving in a gradual ascending channel in the daily time frame. Price action has been oscillating within this channel and so far, the pair has been retaining its structure and holding the channel’s boundaries.
On the 4H timeframe, there was a test to go lower on the channel support, but the move didn’t have sufficient momentum to trigger a clean break.
Price attempted to push upward again but bullish strength has slowed down and we’re now seeing signs of its pull back as it tries to remain stability inside the channel again. I suspect a strong news, or a huge momentum is needed to break this structure. As of now it is still within its channel’s slow but steady bullish trend.
NZD/USD 4H timeframe.
So far price has been respecting a strong daily support zone that’s been in play since May. We’ve also got a strong resistance at 0.6100, which has been tested multiple times. This psychological resistance might be tough to break and will need a clear and strong momentum.
Currently, the pair is pulling back after a big bullish move and as we can on EMA it is pulling back to its centre. So far I think this is a healthy correction and will keep its current bullish trend.
Australian shares set to open lower, NZ inches higher Australian shares are set to open lower on Friday, likely weighed by mining and gold stocks tracking a slide in underlying prices, with investors eyeing U.S. tariff talks with trade partners.
The local share price index futures (YAPcm1) fell 0.5%, a 72.4-point discount to the underlying S&P/ASX 200 index XJO close.
The benchmark fell 0.3% on Thursday.
New Zealand’s benchmark S&P/NZX 50 index NZ50G inched 0.1% higher in early trade.S&P NZX 50
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