Daily Market Analysis
September 29, 2020EURUSD
Euro is facing the consolidation in the lower range area of last week, day pivot is 1.1642.quick dip and pull back forming a pin bar can be expected, immediate supports are on 1.1575 in 4 hour time frame scenario .weekly pivot is 1.1704 any bullish wave crossing the week pivot will establish the current low for upcoming 3 to 4 days as we have job report at the end of this week, crossing the week pivot will make 1.1780 as favorite price area to get traded.
GBPUSD
Pound is facing same previous days consolidation but it is trading now so close to its week pivot on the 1st day of the week, week pivot is 1.2795 and will resume its bullish bias once it crosses it, as it is already trading above the day pivot which is 1.2745, keeping the job report in mind if market fails to place a considerable new low eventually it will rise to 1.3000 mark in result of any buying wave, the only hurdle in that mark seems to be on 1.2840
USDJPY
As told in previous week the area of 105.50 is an important and considerable zone to filter an upward continuation wave or down ward wave top placement. it seems nice responsive resistance as market had an early post opening quick fall and now have a resistance on 105.40 , day pivot is 105.48 , keeping its momentum on the sell side market will touch 105.00 and 104.80 eventually. Market has traded itself for more than 2 days in the situation given above so if it falls previous week low will be our next targets for the job report of this week Friday
AUDUSD
Australian has a push today just on the market opening and quick near term resistance is 0.7077-87 area keeping it self above its immediate resistance will open its upper wave targets as 0.7119 and 0.7165. once market breaks its immediate resistance it is more likely to have the Friday low as our low for upcoming 3 to 4 days as reasonable consolidation will be done and 0.7165-70 should be in the eye-side , weekly pivot for this week we have as 0.7120
USDCAD
USDCAD if keeps its last week Thursday high the only support it has before resuming its sell streak again will be 1.3350, 1.3365 is important in 4 hour time frame if price falls below this price we can have a couple of sell days with target area of 1.3280 and 1.3200 Top condition to look for this is that market should hold the two day back day high of Thursday. Week pivot is 1.3324, any major drop and staying of price below 1.3286 can lead the prices to further down to its monthly pivot which is 1.3170, this scenario is based on 4 hour chart
XAUUSD
Gold looks in a quick dip situation which indicates it can recover from a falling pattern on the start of the current week. For weekly pivot we have it as 1888. 1870 and 1864 are the immediate resistance zones oh the 4 hour chart time frame whereas 1827 and 1817 are the immediate supports. Previous week Thursday and Friday low prices are meant to be broken for a sell setup otherwise market will eventually go for its weekly pivot area.
NASDAQ100
Nasdaq has ended its consolidation phase by posting a buying streak on Friday and giving a push further today market opening. this week pivot we have as 11020 and upper side visible targets are around 11500 area. staying of price above 11264 will lead another strong signal to travel the price to 11500.market has traded the 100 ichimoko last whole week and formed a medium term low , as we have job report this week any bullish bias in 1 hour will signal the high probability of the closing of current week in greens
Donec ligula enim, imperdiet non magna.