NZDUSD is trending downwards ⬇️ 50.81% of traders have a Short ⬇️ position open!

EURUSD is trending upwards ⬆️ 74.56% of traders have a Long ⬆️ position open!

EUR/NZD produced a bullish engulfing candle yesterday. Thus, intraday buyers may keep their eyes on the pair to go long. The price has been choppy on the H1 chart so far. However, the price may have found its double bottom support. Thus, it may head towards the North and offer a long entry to the buyers. Chart 1 EUR/NZD H1 Chart The H1 chart shows that the price upon finding its support made a strong bullish move yesterday. It had a rejection at 1.78500 yesterday and today as well. On the other hand, the level of 1.77650 has been working as a level of support. As of writing, the level produced a bullish inside bar at its last bounce. If the price heads towards the North and makes a bullish breakout at the level of resistance, the buyers may go long above 1.78500. Trade Summary: Entry: Buy above 1.78500 Stop Loss: Below 1.77650 Take Profit 1: 1.79080 Take Profit 2: 1.79435 Take Profit 3: 1.80000

USDCAD is trending upwards ⬆️ 61.55% of traders have a Long ⬆️ position open!

AUDUSD is trending downwards ⬇️ 76.63% of traders have a Short ⬇️ position open!

The AUD/USD was closed at 0.65298 after placing a high of 0.65477 and a low of 0.64922. Overall the movement of AUD/USD pair remained throughout the day as bullish. Aussie pair was flashing green on Friday due to the new hopes that emerged after the easing of lockdowns from all over the world, which will make the economic recovery faster. However, the pair was also supportive of the easing of Sino-US trade conflicts. On Friday, the Reserve Bank of Australia published its Monetary Policy Statement, which showed a sharp cut in the economic forecast of this year. Though it was as expected due to the ongoing coronavirus pandemic lockdown. According to the policy statement, the GDP of Australia was expected to be contracted by 10% in the quarter and 5% in the year. The unemployment rate for the year 2020 was expected to jump to a peak of 10%. The inflation projection was made negative as -1% in this quarter. According to RBA, fiscal measures would drive the economy in order to boost economic growth. However, there were no hints about the further easing of measures by the policymakers in the latest policy statement. Australian Dollar was rebounded after the Sino-US trade relations took a positive turn after both parties announced to fulfill their phase-one promises. Donald Trump, while considering the state of Beijing amid coronavirus lockdown, threatened to impose new tariffs if China failed to buy $200 worth U.S. farm goods. After that, trade representatives from both sides held a meeting via phone call and announced a positive report hence created optimism about the US-China relationship. AUD/USD - Technical Levels Support Resistance 0.6519 0.6544 0.6505 0.6553 0.6495 0.6568 Pivot point: 0.652 AUD/USD - Daily Trade Sentiment The AUD/USD is trading with a selling bias around 0.6510 and has recently bearish engulfing pattern below 0.6564 level, which is suggesting the market is overbought. Hence, the AUD/USD pair may drop until a 38.2% Fibonacci support level of 0.6492. Below this, the next support prevails around 50% and 61.8% levels, which holds around 0.6467 and 0.64410. At the same time, the 50 EMA may support the pair around 0.6465. The RSI is holding above 50, which is suggesting odds of bullish bias in the pair. So let's wait for a bearish retracement to complete before we see further buying in the Aussie. 0.6540 remains selling level, and 0.6440 remains the buying level.

BTCUSD is trending upwards ⬆️ 81.03% of traders have a Long ⬆️ position open!

NZD/JPY produced two bullish daily candles on the daily chart. Friday’s candle closed within a level, which has been a strong level of resistance on the daily chart. The H1 chart shows that the price is about to make a vital breakout. If the chart produces a bearish reversal candle at pullback after the breakout, the sellers may get an opportunity to go short in the pair. Chart 1 NZD/JPY H1 Chart The chart shows that the price consolidated around 65.800 for a while before making the bearish move. The price reacted at the level of 65.345 several times. The pair produced three bearish candles consecutively. As of writing, the pair is trading below the level. If the price goes back to the level and produces a bearish reversal candle, the sellers may trigger a short entry. Entry: Sell below 65.255 Stop Loss: Above 65.345 Take Profit 1: 64.985 Take Profit 2: 64.900 Take Profit 3: 64.750

AUDUSD is trending downwards ⬇️ 85.22% of traders have a Short ⬇️ position open!

USDCAD is trending upwards ⬆️ 56.25% of traders have a Long ⬆️ position open!