Daily Perspective – 03/01/2019

Markets opened today with a huge surge, the USDJPY selling off by over 450 pips. GBPJPY and GBPUSD also got dumped.

There is still uncertainty hovering over the markets especially as there is talk of the US government shutdown taking weeks for negotiations to materialize.

As a day trader, we often careless which direction markets go, our interest is what the charts are saying, and here is our perspective for today.

EURUSD

At the moment the pair is bearish, with prices likely to go to support level S78. However with the uncertainty we are keenly looking at buy opportunities that could see prices test the R61 resistance level

GBPUSD

After a fast fall this morning key price levels to see today for the bears would be S100, S138 and S161.

A reversal could have prices test the R78 resistance level

USDJPY

The yen gained big time this morning, with the uncertainty still in the cloud the pair has the potential of going further beyond the S161 level beyond our weekly forecast of 109.132 by a stretch.

On the other hand there is a possibility of a correction and reversal to test the pivot level.

GBPJPY

After the fall this morning, there could be a correction seeing prices back at the pivot, however Brexit and the JPY strength could still see the pair close at the S200 and below price levels.

USDCAD

We are still bullish with this pair possibly seeing prices at R138.
A sell off could see prices at support level S200

Trade right and success will be yours. Cheers.

Leave a Comment

Are you SICK of loosing money and your mind trading?

Join traders like you and receive exclusive actionable trade ideas and resources that will help you extract money every day from the markets.