GBPUSD Range Trading...من DevlinMcabee

02 Oct 2020, 13:52 · Views 4,625

GBPUSD Range Trading Levels GBPUSD has responded to 2020 VWAP . The top side of the just broken resistance line (see below chart) is proposed support along with Friday’s uncovered close at 1.2740. 1.3005/50s is a well-defined zone for resistance. This zone includes support from August and resistance from earlier this month.

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DevlinMcabee

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GBP/USD

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المزيد

USDOLLAR 4 HOUR We looked at DXY yesterday, remember that the neckline is 93.50 and proposed support for that index. USDOLLAR is nearly identical with the neckline near 12040. I’m in the re-test of the breakout level (neckline) and then higher for the USD. 9/23 – USDOLLAR has traded into potential resistance at 12129. I remain constructive but this is a good spot for a pause. #USDollarIndex#

DevlinMcabee

AUDUSD Breakdown Level is .7250 No change to AUDUSD , which still needs to break below the lower parallel from the 3+ month channel in order to confirm a trend change. The lower parallel is still about .7250. As is the case with EURUSD , AUDUSD (futures…not shown here but see scandex.com for that chart) has also been trading around and is currently just below VWAP from the high. This reinforces the idea that if the move is lower, then it’s lower from the current level. #AUD/USD#

DevlinMcabee

EURUSD 4 HOUR #EUR/USD#

DevlinMcabee

AUSTRALIAN DOLLAR FUTURES HOURLY AUDUSD has traded into former support at .7135 but respect potential for strength into .7190-.7220 before this rolls over. Again, the 9/9 low is .7190. VWAP from the high is currently .7220 and in line with the upper parallel of the short term bearish fork. A pullback into .7080/90 maybe in order before strength into .7190-.7220. I’m willing to buy that pullback and before flipping short at the noted higher zone. On spot (see below), the 200 period average on the 4 hour chart is currently .7230. I’ve shown a rolling monthly midpoint 2 charts down, which is currently .7190. Notice how AUDUSD has been riding this midpoint all year! Bottom line, the weight of evidence suggests that .7190-.7220 is a barrier to strength. #australian#

DevlinMcabee

AUDJPY 4 HOUR AUDJPY broke short term trendline support on 9/16. The recovery over the last week simply serves to correct short term oversold conditions. Focus for resistance is 76.40 (200 period average on 4 hour chart and trendline). Downside focus is the top side of the trendline from the 2018 high near 71.35 (38.2% retrace of rally from March low). #AUD/JPY#

DevlinMcabee