For AUDUSD, just wait and see while we’re expect bullish scenario for major pairs, as we can see on how this demand area holds the price from going lower.
We can also certainly take another buy from NZDUSD and considering the previous month’s high as the main target. Just wait and see for any retracement.
The new week has begun and we are going to see how FOMC affects price, we are going to see how EURUSD will react to the upcoming FMC events today as the price is already going higher than the supply area on the left side.
For the next instrument we are going to see for today yes GBPUSD as we are seeing price is breaching the supply area on the left on daily time frame. FOMC will bring price probably higher as we are seeing the weakness on dollar for the current weeks. Just don’t try to enter the market before the news.
We’re seeing quite a difference on AUD USD as based on daily time frame, the supply area on the left is holding the price from going higher. But this is not going to change our current bias of the price going higher after FOMC event.
Also for the current week, we’re seeing how the price on NZDUSD is not even trying to touch the supply area on the left. As we are having a bias of price going higher, we are going to expect price reacting higher after the FOMC event this afternoon.
As we are having a weaker bias on dollar index, we are not going to expect price on gold to go higher sooner after the FOMC event. But instead, we are going to see hull price is willing to touch the demand area below before going higher.
This upcoming week is expected to witness heightened volatility, particularly starting from Wednesday. Our focus will be on several major pairs for potential trading opportunities. Beginning with EURUSD, we notice that the price is currently within a demand zone according to the Daily timeframe. We’re anticipating a market reaction during Wednesday’s FOMC event before considering any buying signals. It’s advisable to exercise caution and avoid premature actions.
Another one to consider is GBPUSD where price also around a demand area. Just the same protocol as EURUSD and don’t try to be ahead of FOMC event as the volatility and the spreads can make it worse
AUDUSD finally hit the demand area that we were waiting for weeks. We shall see how FOMC will drive the price for either sell signal or buy signal later. A friendly reminder not to take bigger risk during this time.
Although not directly related, Gold is currently situated within a demand zone as well. If a downward move occurs, my attention will shift to another demand area. For a clearer perspective, it’s wise to wait until Wednesday’s PM session.
Looks like we’re in a bearish situation at the moment. Just wait for any confirmation to go to the upside in order to buy while price is retracing. EURUSD to check around this area.
The next one for the week is GBPUSD where we can expect a buying confirmation in this demand area and see if there’s any posibility to go towards this supply area.
We can’t expect to trade in daily basis if the setup is not giving any signals. AUDUSD just wait and see for bearish continuation.
We can look for a retracement on NZDUSD as we are in bearish trend. A confirmation to buy can be seen somewhere around this week before NFP later this Friday.
CPI week and just wait for any confirmations on some major pairs. EURUSD is currently on the bearish side and expecting this supply area as a defense from going higher. Just don’t be in front of the news, just wait for any confirmation after the numbers are released.
GBPUSD gives out the similar image as EURUSD as we can see it here. Not an invitation for selling around the supply area, but see if price confirms bearish trend after the news later.
This is the reason why we should wait for any confirmation after the CPI number. AUDUSD is now between both areas and we just simply wait and see later.
The last one we want to wait until CPI numbers are released is NZDUSD. Just look on how price is currently located at the moment. Same drill, just wait for either one of the zones got violated.
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