Forex analytics and overview

Has U.S. Dollar’s Bull Trend Resumed?

2023.02.07 07:26

AUD/USD rejected the 100-week & the 500-day moving averages at 7160/80 & collapsed through support at 7060/50 on Friday for a sell signal targeting 6990/80 & 6930/20.

After the bearish engulfing candle on the weekly chart, the outlook remains negative. We broke 6300 for a sell signal targeting 6830/20 but only reach 6853 so far.

Gains are likely to be limited with resistance at 6920/40. Shorts need stops above 6960. On the downside, we are targeting 6830/20, perhaps as far as 6790/80.

FX Chart

huge bearish engulfing candle on the weekly chart suggests the longer-term bull trend for the US dollar has resumed.

FX Chart

However, we made a low for the day just below key support at 6300/6280 – we can still have a bounce after a bearish engulfing candle. If you try longs, stop below 6255 – targets are 6360/70, perhaps as far as resistance at 6400/20. Shorts need stops above 6435.

A break below 6255 is a sell signal targeting 6200/6190, perhaps as far as 6160/50.

resistance at 9125/35. Above 9150 meets strong resistance at 9180/9200. Shorts need stops above 9220.

A break below 9065 re-targets 9040 & 9010/00, perhaps as far as 8970.

shot higher through strong resistance at 130.65/85 for a buy signal. The bullish engulfing candle on the weekly chart suggests the longer-term bull trend for the has resumed. Holding above strong support at 130.80/60 targets 131.50/60, 131.90 & 132.40/50.

All targets hit as we reach strong resistance at 132.90/133.10. Shorts can target 131.80/70, perhaps as far as strong support at 131.10/130.90 for a quick scalping opportunity. Longs need stops below 130.70.

Shorts at 132.90/131.10 stop above 133.25. A break higher sees 131.10/130.90 act as support to buy into longs, targeting 133.90/134.00 & 134.70.

Fx Chart

is very choppy – up one day, down the next day in the 6-week sideways trend but should have support at 141.80/141.60 this morning. Longs need stops below 141.40. Longs can target 142.20 & 142.65.

has strong support at the lower end of the range at 8120/8100. Longs need stops below 8070. A break lower is a sell signal initially targeting 7960/40, perhaps as far as 7880/60.

It is difficult to find tradeable levels in the wide sideways trend. We have strong resistance again at 8460/80. Stop above 8520. Above here is a buy signal & can target 8590 than 8630.

‘s huge bearish engulfing candle on the weekly chart suggests the longer-term bull trend for the US dollar has resumed.

We wrote: Holding below 1.0820/30 today can target 1.0760/50, perhaps as far as today’s support at 1.0690/70. (We made a low for the day at 1.0708). Longs here today need stops below 1.0650.

A break lower is a sell signal, initially targeting 1.0600 & eventually strong support at 1.0470/50. Longs need stops below 1.0430.

Fx Chart

Gains will likely be limited after the important sell signal on the weekly chart. The first resistance was at 1.0780/90. Strong resistance at 1.0820/40 on any bounce today – shorts need stops above 1.0875.

shot higher to leave a bullish engulfing candle on the weekly chart. We beat the first resistance at 1.3430/50 to reach 1.3475  & look for the next target of 1.3495/1.3305, then 1.3530/40.

Support at 1.3430/20. Longs need stops below 1.3400. Next target & buy opportunity at 1.3360/40. Longs need stops below 1.3320.

broke support at the end of the 2-week range at 1.4455/35 for a sell signal targeting 1.4390/80, perhaps as far as 1.4320/10.

Resistance at 1.4480/1.4500 today. Shorts need stops above 1.4525.

has reversed so there is no clear breakout & I will wait for another opportunity. has broken higher, so holding support at 9835/15 can target 9920.

broke the lower end of the recent range at 1.2280/60 for a sell signal targeting 1.2145/25 & the break below 1.2115 was the next sell signal on Friday – we hit 1.2002 yesterday.

The outlook remains negative as we look for a test of support at 1.1960/40. A low for the day is possible, but longs need stops below 1.1920.

The first resistance was at 1.2100/20. Strong resistance at 1.2160/80. Shorts need stops above 1.2200.

Table

Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 81,990.97 1.97%
ethereum
Ethereum (ETH) $ 1,890.60 0.14%
tether
Tether (USDT) $ 0.999983 0.00%
xrp
XRP (XRP) $ 2.29 2.43%
bnb
BNB (BNB) $ 583.41 0.84%
solana
Solana (SOL) $ 124.61 0.41%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.706505 2.97%
dogecoin
Dogecoin (DOGE) $ 0.168999 0.99%
tron
TRON (TRX) $ 0.225683 1.39%
staked-ether
Lido Staked Ether (STETH) $ 1,887.17 0.12%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 82,872.20 0.10%
pi-network
Pi Network (PI) $ 1.65 1.42%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 81,728.90 2.21%
leo-token
LEO Token (LEO) $ 9.73 0.16%
chainlink
Chainlink (LINK) $ 13.28 0.24%
stellar
Stellar (XLM) $ 0.273913 2.66%
usds
USDS (USDS) $ 0.999905 0.04%
hedera-hashgraph
Hedera (HBAR) $ 0.190259 3.74%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,258.96 0.14%
avalanche-2
Avalanche (AVAX) $ 18.77 0.91%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 0.58%
the-open-network
Toncoin (TON) $ 2.79 2.48%
sui
Sui (SUI) $ 2.17 4.94%
litecoin
Litecoin (LTC) $ 89.16 1.56%
bitcoin-cash
Bitcoin Cash (BCH) $ 327.80 5.22%
polkadot
Polkadot (DOT) $ 4.03 1.34%
mantra-dao
MANTRA (OM) $ 6.25 3.14%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.02%
weth
WETH (WETH) $ 1,890.18 0.07%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.21%
bitget-token
Bitget Token (BGB) $ 4.19 0.66%
hyperliquid
Hyperliquid (HYPE) $ 12.75 4.12%
whitebit
WhiteBIT Coin (WBT) $ 28.17 1.78%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,005.11 0.21%
monero
Monero (XMR) $ 207.43 1.38%
uniswap
Uniswap (UNI) $ 5.93 0.43%
susds
sUSDS (SUSDS) $ 1.04 0.09%
dai
Dai (DAI) $ 0.999936 0.01%
near
NEAR Protocol (NEAR) $ 2.67 3.82%
aptos
Aptos (APT) $ 5.16 0.70%
pepe
Pepe (PEPE) $ 0.000007 5.72%
ethereum-classic
Ethereum Classic (ETC) $ 18.01 1.00%
internet-computer
Internet Computer (ICP) $ 5.50 0.37%
ondo-finance
Ondo (ONDO) $ 0.83929 2.60%
okb
OKB (OKB) $ 42.11 1.67%
gatechain-token
Gate (GT) $ 20.52 0.83%
aave
Aave (AAVE) $ 166.28 3.53%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 81,962.96 1.90%
mantle
Mantle (MNT) $ 0.730157 2.87%