The demand for the US dollar is at a high level now. The technical pattern on AUD/USD indicates emergence of a bearish sentiment. The price is testing the 0.7820 local support. I’ll sell the pair, if it fixes below 0.7820. It may move to 0.7790.
Great Britain has published a mixed report on the labor market. Bears dominate on GBP/USD now. The asset has the potential for declining. The Outside bar PA pattern formed on this pair. I’ll sell GBP/USD, if it fixes below 1.3150. It may move to the 1.3100 round level.
USD/CAD is consolidating now. The market participants wait for the report on the inflation and retail sales (12:30). I’ve identified the key S&R levels: 1.2500 and 1.2520 and will open deals after the price fixes above/below these marks.
I’ll buy USD/CAD after it retests the 1.2520 mark. It may move to 1.2550-1.2575.
I’ll sell, if it fixes below the 1.2500 round level. It may move to 1.2460-1.2450.
The pound is still under pressure. The series of weak reports from the UK was published this week. GBP/USD is fixing now. I think that the currency can decline further. I’ll sell this pair, if it fixes below 1.3120. It may move to 1.3090-1.3075.
There were aggressive purchases of USD/CAD on Friday. The Canadian dollar weakened against the US dollar by more than 150 points. This happened due to the publication of weak reports on the inflation and retail sales in Canada. The technical picture is ambiguous now. The asset is consolidating. I don’t exclude a technical correction in the nearest future. I’ll sell USD/CAD, if the price fixes below the 1.2615 local support. The pair may move to 1.2585.
GBP/USD held the 1.3215-1.3225 local supply zone during the Asian trading session. It caused emergence of a bearish sentiment. The pair has the potential for the further reducing. I plan to open deals in the current trend direction. I’ll sell GBP/USD, if the price fixes below 1.3185. The closest target for taking profit is the 1.3160 level. I’ll use a trailing stop for this position.
Aggressive sales of AUD/USD were observed during the Asian trading session. The currency found its support at the 0.7780 level. I plan to wait for a correction to 0.7795-0.7805. If the price reaches this zone, I’ll short the pair. It may move to 0.7780-0.7750.
My expectation on AUD/USD were confirmed. Aggressive sales were observed during the Asian trading session. It happened due to the publication of a weak report on the inflation in Australia. I’ll sell the pair, if it fixes below the 0.7710 local support. The pair may move to 0.7675-0.7650.
I also don’t exclude a technical correction after a sharp fall of AUD/USD. I’ll buy the pair, if it fixes above the 0.7730 local resistance. It may move to 0.7750-0.7775.
I expect a correction on USD/CHF soon. The divergence of price and MACD has appeared, it’s a reversal formation. I’ll sell it with a trailing stop, if the pair fixes below 0.9895. It may move to 0.9870-0.9840.