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EURUSD at Parity Today? Nikkei (JP225) in Pennant. Trading Short AUDJPY.


Hey Valutraders!  We might be at parity on EURUSD today!

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I’m Brad Alexander and in this week’s Market Blast Technicals let’s take a look at AUDJPY, the Australia 200 Index (AUS200), the Nikkei (JP225), and EURUSD.

The talk of the markets is the possibility of EURUSD at $1.00 which we haven’t seen for almost 20 years.Screenshot 2022-07-12 at 11.26.01

The strong USD and fears of Euro recession are driving this.

We see that price action should intersect this lower trend line at about $0.98.Screenshot 2022-07-12 at 11.26.15

If you like chart patterns as much as I do, you will see this Falling Wedge, on the monthly chart, which is a bullish pattern but this could take months to reverse.

Yesterday we promised to look at the falling stock indices from a technical standpoint and we see a Symmetrical Pennant on the Australia 200 with price action falling to the lower trend line.Screenshot 2022-07-12 at 11.26.26

We hope you spotted this Head and Shoulders pattern from last month before the drop.Screenshot 2022-07-12 at 11.26.46

Early this morning the Nikkei fell, as well, and price action is also forming a Symmetrical Pennant with the Stochastic Oscillator showing very oversold.

Last week we looked at the weakness of AUD and, as you know, we have been waiting for a reversal of JPY.Screenshot 2022-07-12 at 11.27.02

Here we see a Symmetrical Pennant on AUDJPY with price action touching the lower trend line and the Stochastic Oscillator showing oversold.

My strategy would be to wait for a bounce off the upper trend line with confirmation from your favourite technical indicators.

Meanwhile, we will watch all AUD pairs along with all JPY pairs on our MT4 profiles and I’ll show you what that means in next week’s webinar on Analysing FX Pairs.

Thanks for watching and don’t forget to subscribe to Valutrades Signals and the link will be in this video’s description below.

Also, subscribe to our YouTube channel and register on the Valutrades website to get notifications on new content as it happens.

That’s all for now.  Happy trading with Valutrades and we will see you next time.

CFDs and FX are leveraged products and your capital may be at risk.12 July 2022 Technicals EN TN



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