Major USD Pairs Discussion | Daily Market Breakdown

GBPUSD- yeah. I'm seeing it too. I'm scalping the sells already for now. Until a clearer confirmation for stronger drop although the momentum is increasing.

GBPUSD-Quick scalp. Tp Hit.

Will wait for invalidation of the TP price level, then look for another sell opportunities.

Let's see how price will play out

Because I was expecting it to sell too as EURUSD and GBPUSD are selling

Very clean trade

The sell setup I had, price stopped me out because of spread

If price goes down to that level I marked, it's a sell validation, and price may continue down

AUDUSD- The daily is planning on replicating this bullish reversal pattern. Next level target will the 0.7100 resistance price level.

Let's see how price will play out.

I honestly don't know why it's buying

Nice win chief

Thanks man.

GBPUSD-I'm waiting to see if price will break below 1.3413 and retest it for more sells to the downside.

AUDUSD-Price is reacting to the upper boundaries of the bullish channel. Will wait to see if price will drive down back to the lower boundaries of the channel for the buy continuations.

Yeah. I've seen that. I won't be expecting it to break below the trend support but to rebound off it, using the minor H-support that confluences with it.

AUDUSD- this is why it's good to always have different expectations for Correlating pairs. Treat them independent of each other even though they have similar structures. They can be doing the same thing, but the timings are always different.

Let's see what it will do today. It's facing up.

The AUDUSD bullish move now is due to dollar weakness, anticipating a trend exhaustion

Price is still heading higher

Stick to what price is doing currently

Yeah

In as much as some pairs correlate, they still have individual structures and it should be treated separately even while trading them with correlation

No. I don't think so. Not every movement in USD-related pair is primarily dollar related. AUD is risk-sensitive currency. And as US-Iran conflict is easing up, investors will move back to high yielding assets and currencies like AUD.

Yes, dollar (USD) weakness can contribute, but it's not the primary reason it is buying.

Price didn't even come back to that yellow box talk more of to come back to your entry level we can predict price but the market has its own mind

AUDUSD-Also to note, Australia is one of the world's largest gold-exporter, because they produce gold.

And that makes AUD correlation with XAU primarily positive, because the more revenue Australia earns from Gold, the more it strengthens the AUD currency.

The correlation is only different when investors are risk-on. Buying Gold and selling AUD, to insure against geopolitical risk.

So, it's best to assess both AUD and USD before concluding it's because of DXY that AUDUSD is buying. It's not always primarily the case.

Yeah. That's why I'll always quote that "price has the final say".

It already did the retest of the Invalidated trendline that confluences with that pattern at that major key support. It won't return until it meets a resistance it can't break, then it will pull back to find more momentum to continue the buys.

Yeah. that's the point.

I'll watch for the retest of this price level for the buy continuations on AUDUSD.