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GBPUSD 4 HOUR CHART – Pre-Easter trading continues
GBPUSD remains in a retracement mode and as this chart shows key levels are not until the trendline and 1.2803
Immediate resistance is at 1.2675, an inviting but so far elusive target..
Support at 1.2632 needs to hold to keep thoughts away from 1.26.
EURUSD 1 HOUR CHART – BID IN AN OFFERED MARKET OR WHAT?
Having held a test of 1.08 EURUSD gas tested the pivotal 1.0850 level in a pre-Easter week, the bounce has tested the pivotal (more psychological than technical) level at 1.0850, also the midpoint of 1.08-1.09.
There seems little incentive to push too hard unless a solid 1.0850+ trades, which would put the key 1.0868 level in play.
Otherwise, range is to 1.0831, which was also a resistance from Friday with support seen as long as it holds..
USDJPY Update: Trend Line Break and Support Levels
The recent price action in USDJPY has seen a break below the ascending trend line on the 4-hour chart, indicating that a prolonged consolidation phase for the uptrend starting from 146.47 is currently in progress.
As long as the critical support level at 150.26 remains intact, there is potential for the upward momentum to resume, with the possibility of further advancement towards the 170.00 region following the consolidation period.
The initial support level to monitor is at 150.95. If this level is breached, it could lead to a test of the key support at 150.26. Only a decisive breakdown below this pivotal level would suggest the potential completion of the uptrend that originated from 146.47.
AUDUSD 4-HOUR CHART – Consolidation or Correction?
The market has started out in typical pre-Easter week fashion with some position adjustments dominating.
AUDUSD failure to test .6500 has seen a modest retracement that would need to take out .6577 to give it some legs.
Otherwise, expect some choppy consolidation trading while within .6599094 and .6577.
BTC 4-HOUR CHART
i was asked to post a BTC chart.
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The move up looks logical using the AT red lines, but it feels more like a video game than trading in the forex market.
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In any case, it has held off a retracement aboce 60000 but would need to take out the record high to signal a new leg up.As I have said before, using my magic numbers (60000, 65000, 70000), they act as a good guide beyond just looking at technical levels in this crypto pair.
