Hi traders! at the moment we’re seeing market moving headlines pop up very frequently. Whilst news trading is fantastic for short term movements, I am going to outline my longer term bias’s from both a technical and fundamental persepctive.

AUD/USD

AUD/USD dropped out of the resistance trendline yesterday, which correlated with the 0.7420 resistance from September 2020. I’m currently waiting for the retail sentiment for the AUD/USD to get heavier on the long side. Currently the AUD/USD’s retail sentiment has a short-skew, meaning that the sell side liquidity isn’t as available for the big players to sell yet. You can check the sentiment here!

EUR/USD

EUR/USD has plummeted over the last few weeks. Since forming a double top pattern at the resistance trendline around 1.1450 price has lost its footing, dropping some 600+ pips. We’re looking for price to continue into the support level around 1.077.

EUR/GBP

EUR/GBP is my favourite chart right now! Price has found resistance at the key level of 0.8300, and is capped by the short term resistance trendline. But the fact that retail sentiment 65-70% long the forex pair makes this my favourite chart right now. I’m eyeing downside into the recent lows at 0.8210.