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EURUSD
Supports : 1.09000, 1.08900 and 1.08400
Resistances : 1.09400 ad 1.09550
This is an Ancient Pattern called Jumping Rabbit ( can be a Squirrel or even a Wild Cat ), that indicates two possible scenarios : Jump high and stick to the Three or Jump, miss the branch and Fall quickly.
Now it depends on the Wise Man Data :
USD Unemployment Rate
USD Non Farm Payrolls
USD Average Hourly Earnings MoM
Economic Calendar
Following the Prophecy of the I-Know-It-all Guru and some analysis by Bleeding Edge Growth Fund & We Are So Tight , We Won’t Let Your Mother In Technology Fund , followed by behaviour of my Cat, we should see 1.10150 soon enough…
USDJPY DAILY CHART: MELTDOWN
Red AT support lines are being broken like Swiss cheese in a market likely thinned awaiting the US jobs report today.
With consolidation around 148 failing to last, the break of 147.61 leaves a void until 145.90.
On the upside, resistance is now between 147.61=148.00. Only back above 148 would deflect the risk
From the earlier Reuters article, suggests a limited USDJPY upside ahead of the BoJ meeting:
Bank of Japan (BOJ) officials have begun ramping up their hawkish rhetoric and shown increasing confidence that the Japanese economy was moving towards the BOJ’s 2% inflation target, just ahead of the central bank’s March 18-19 policy meeting.
USDX (US Dollar Index) Daily Chart
Why am I posting this chart if I do not trade USDX?
– The dollar sell-off was broad-based so I took a look at a composite USD index
– EURUSD makes up 57.6% of USDX and can be an indicator for this pair
The two blue AT blue lines were a sign of a shift in directional risk to the downside and you can see how this played out.
The break of 1.0332 exposed 1.0779 as the next key target, so far it has paused just above it.
Look for a pause if 1.0279 holds but only a move back above 1.0332 would negate the breakdown.
USDCAD Update: Recent Movement and Key Levels
USDCAD has continued its downward trajectory from 1.3605, reaching a low of 1.3451 and breaching the ascending trend line on the 4-hour chart.
Currently, the pair is testing the support level at 1.2440. A potential breakdown below this level might lead to further downside movement towards the 1.3400 region, followed by the 1.3360 area.
The initial resistance is identified at 1.3470. A successful breach of this resistance level could pave the way for a potential return towards the 1.3485 region.
EURUSD Daily
Tomorrows play will heavily depend on data :
EUR GDP Growth Rate YoY & QoQ
USD Unemployment Rate
USD Non Farm Payrolls
USD Average Hourly Earnings MoM
Check the Economic Calendar
However, it is clear that Buying is the name of the game
As Long as 1.08800 holds , we are eyeing 1.10000 area.
In the case the support is lost, it can only slow down the ascent as 1.08350 should underpin the pair .
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