It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
SELL 1.7015; TP1 1.6960; TP2 1.6925; SL 1.7040
BUY 1.7115; TP1 1.7170; TP2 1.7240; SL 1.7090
Today the Bank of England will announce its statement at 15:00 MT time. Although it’s hard to imagine positive comments for the GBP, anything can happen.
If you want to make use of the volatility related to the pound, you can pick a pair that is not mainstream like GBP/CAD. It came to the resistance line (1.7095) for the third time. There’s room for correction to 1.6960/25 area if the pair slide below 1.7015. On the other hand, an increase above 1.7115 is needed to open the way up to 0.7240. The main scenario is bearish.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
The New Zealand dollar seems to be tipping out against the USD. Will that be another full cascade downwards?
What moves the German index?
The Canadian dollar broke out through the 1.40 psychological mark. What’s the reason?
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