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Trading on Renewed USD Strength. Trading Long on USDJPY.

   

Welcome to this week’s Market Blast Technicals.

I’m Brad Alexander and on behalf of Valutrades let’s take a look today at EURUSD, NZDUSD, AUDUSD, USDJPY and USDCHF.

 

We have been watching USD weakness since the onset of the pandemic last year with the latest bear run, as an example, on this USDCHF Daily chart from the end of March.Screenshot 2021-06-08 at 10.26.19

This is typical of all USD pairs but if we take a look at the H4 charts we see what may be the start of a reversal with price action bouncing off the lower trend line and the Stochastic Oscillator showing oversold.Screenshot 2021-06-08 at 10.26.38

We see a similar story with USDJPY.Screenshot 2021-06-08 at 10.26.53

The inverse is true of course with EURUSD with Stochastics showing overbought but watch out for these key levels.Screenshot 2021-06-08 at 10.27.06

We see the same with AUDUSD with a key level below price.Screenshot 2021-06-08 at 10.27.14

And with NZDUSD.Screenshot 2021-06-08 at 10.27.35

We are seeing ranging markets in USDCAD, as we pointed out in an earlier Market Blast video, and the same with GBPUSD.

Thanks for watching and don’t forget to 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 later in the week with our trading tips video.

CFDs and FX are leveraged products and your capital may be at risk.

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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