USDJPY
This week we have three major economic events: the ISM Manufacturing PMI, FOMC meeting, and NFP on Friday. Since market went from 110.50 to 108.60, we have two possible scenarios for the USDJPY this week.
The first possible scenario is that the market will open and stay bearish until it reaches the 106.80 price level and then retraces up. This means that the market needs to gather more buyers before the NFP report on Friday.
The second scenario is that the market might react to the gap at 108.13 price level and retrace up to 110.54 level.
USDCHF
Great opportunity to go long on USDCHF (daily chart) at 0.9226 if market shows bullish evidence at this demand level.
USDCAD
USDCAD still has room to go down before retracing back up. We go long if market reaches 1.2201 price level and shows some bullish evidence.
EURUSD
After a long rally on the EURUSD, the price is approaching long-term supply level on a daily chart at 1.2608. If price shows bearish evidence at this level we short the pair.
GBPUSD
This week we have major economic events for the British Pound and we could see some bearish sentiment before resuming its long-term uptrend.
If the pound shows some bearish evidence at the opening this could mean a downtrend move to the 1.3894 price level.
AUDUSD
Let's start analyzing the daily chart to see the big picture first:
AUDUSD is near higher timeframe supply level, price has to test the 0.8202 level before going on a downtrend.
On the 1 Hour chart we identified the major retracement levels.
