[VIDEO] Forex Pairs - AUD/USD, GBP/USD, EUR/USD And USD/CAD Analysis

Some reversal in risk sentiment seen in Asia, reaffirming that long term investors should look beyond finding a bottom in tech towards more promising sectors | Saxo Bank

AUDUSD beat strong resistance at the March high at 7430/40 to test very strong resistance at 7480/90. Shorts need stops above 7510. A break higher is a medium term buy signal. Shorts at 7480/90 target 7440/30, perhaps as far as 7380/60.

GBPUSD break above 1.3215/25 was our buy signal targeting 1.3300/20 - hit over night as I write. Eventually we could reach as far as resistance at 1.3400. A pull back to the neck line at 1.3230/20 is a buying opportunity with stop below 1.3300.

EURUSD holding first resistance at 1.1.1045/1.1060 is a sell signal targeting 1.0975/65 then 1.0910/00. This is not a support so if we continue lower look for 1.0850 before a retest of the March low & important 5 year trend line support at 1.0825/05. Longs need stops below 1.0780. Shorts at 1.1045/60 stop above 1.1080. A break higher targets resistance at 1.1120/40.

USDCAD tests strong support at 1.2600/1.2580. Longs need stops below 1.2550. A break lower is a sell signal targeting 1.2485/75. Longs at strong support at 1.2600/1.2580 target 1.2670/80 then first resistance at 1.2700/20 for profit taking before the weekend.

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Some reversal in risk sentiment seen in Asia, reaffirming that long term investors should look beyond finding a bottom in tech towards more promising sectors | Saxo Bank

Jason Sen

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason used technical analysis throughout his trading career and formed Daytrdeideas.co.uk which established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. He advises dozens of traders at up to 15 major investment banks and hedge funds on market movement throughout each trading day on The Bloomberg Professional® service. Jason Sen also provides trade ideas with entry, exit and target levels on Telegram & in daily reports to retail traders. daytradeideas.co.uk