Nathan in this video looks at the daily analysis for EUR/GBP, EUR/USD, GBP/USD, AUD/USD, USD/JPY, AUD/USD and USD/CAD pairs.
EUR/GBP — Still in the wedge pattern shown in the daily chart, that we have been talking about for a while. EUR/GBP has been untradeable for a little while in terms of long term setups. There are two possibilities. We are looking for a breakout to the downside, retest and continuation to the downside. Or a breakout to the upside and 0.8600 level is the target. We are ready to take trades in either direction when the time comes.
EUR/USD — Recently we got a break to the trend line and a nice continuation to the downside as seen in daily chart. We have built a base now and moved a bit lower to test the based and now we are quite bullish. This looks like a nice trading opportunity to buy with a good risk to reward ratio. And it could move from here to 1.31 level in this sideways
market.
GBP/USD — We have a similar situation and we have a little more stalling action and bearishness yesterday. This pair looks like setting up for a nice bullish move and the target is the area shown in the daily chart.
USD/JPY — We have this small upward sloping channel within the very large upmove. We are waiting for a break to the downside. The 100.00 level looks supportive and we are waiting to take long position from there. As of now its difficult to trade at these levels.
AUD/USD — AUD is making a nice bounce from this support zone shown in the daily chart. Its a big wide support zone. If it can rise up from here it could test the parity level and the trend line shown in the daily chart and could all the way come up and test the zone above shown in daily chart.
USD/CAD — Looks interesting at the moment. It made a massive move break on the trend line and was rejected again because of the USD weakness started off this week. There exists a good trade potential in either direction for this pair.