US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, AUD/USD


  • Despite headlines, the US dollar remained in the same range as March.
  • Even in the rest of the US dollar-bound region, there are a number of other interesting currencies such as the EUR / USD yesterday, or there are crossings in GBP / USD or AUD / USD.
  • The analysis in the paragraph is determined by Price action And Chart shapes. Check out our to find out more about price action or chart styles DailyFX Education Class.

We are not yet a week away from it. FOMC speed increase However, we can measure the already muted response in US dollars. After the price decision, the US dollar weakened earlier in the day, hitting a record low in early March, which has had a significant impact on recent price action.

That support campaign has taken place Thursday morning, So just after the speed increase, and that led to a relatively clean run last night; At this point, the dollar is back in full swing. This is the same zone I was looking at before the decision was made around 98,32-98.45. And interest remains at this point.

But, to be clear, the US dollar is often in the long run in March. And since low-altitudes go hand in hand with horizontal support, there may be a bearish bias that has begun to build. This can eventually be built in A. Designed triangular pattern Often offered for bear bites. Setting up that nature does not necessarily eliminate long-term bullying tendencies, but what I see below can underscore the profound repercussions of that big picture movement.

US Dollar Four Hour Price Table

USD Long

Take a step towards the daily chart and the trend in the USD will remain in effect. In the event of a deep reversal, there is support at around 97.50 and 97.00. Channel support currently operates around 96.20 and that Trend line Coupled with 96.47 Fibonacci Q2 Open space level. This could be dismissed as there has been no daily close to this trend since he entered the game last June.

US Dollar Daily Price Chart

US Dollar Daily Price Chart

Euro / dollar

I wrote. EUR / USD The pair showed off both a bully and a candlestick yesterday.. The short-sightedness carries the power of bullying with a high triangle. The long-term appearance, however, was a whip bear growing in early March after a long Fibonacci stage.

Prices violated the psychological level at 1.1000 and the side of the chart began to fill earlier, with EUR / USD finally falling to my next support on my chart at 1.0958. As the US dollar dragged backwards, that level rose, but this combined with the low-low and low-high kept the depression as low as possible.

For the recent resistance, the 1.1057 level will remain interesting because this downward triangle was in support before it broke down in early March. Moreover, the same 1.1104-1.1140 zone is secondary resistance.

Euro / Dollar Four Hour Price Index

EURUSD price chart

GBP / USD Breakout – Pre-support resistance

I was backing the GBP / USD late on the short side of the US Dollar, mainly on last week’s 1.3000 support note. This is the main one. Psychological level It has a limited history, and at this point, it is the turning point that changed the flow in GBP / USD.

So I talked a lot about setting up at the Webinar last week. And it continues to fill, price action is now hot in the pre-support area by testing the recent highs. This opens the door to sustainability, and support capacity may now be thrown back to previous short-term resistance, taken around 1.3167 or 1.3194.

GBP / USD Four Hour Price chart

GBPUSD price chart

USD / CAD responds to long-term trend line

Go back to the US Dollar and USD / CAD interest rates. Last year, I highlighted the long-term support position in the pair, taken from the bullying trend that led the couple to a higher second half. That trend line came into play yesterday I warned of that potential last ThursdayAnd buyers have been working on the issue ever since.

That trend has helped keep it low, and this will open the door for short-term reversal. Long-term formation remains Upward triangle So, if the bulls were able to bring their business together, this could lead to the disappearance of the big picture. However, the first key is to maintain support along the trend line to keep the formation in place.

USD / CAD Daily price chart

USDCAD Daily Price Chart

AUD / USD bulls rush

Since the beginning of February, I have been focusing on the AUD / USD short-term trend. The pair began last month with a massive .7000 support test, which allowed them to build. The shape of a falling wedge. Such configurations are often presented for the purpose of reversing the bullying, and that is why the couple began to decline later in the month and early March.

Ahead of the FOMC, however, the AUD / USD rebounded strongly and gained support around the latest 38.2%. As I wrote last Tuesday, bulls must respond immediately to bullying tactics, and they did. A Dodge Published last Tuesday with the big green bar on Wednesday, around the FOMC rate hike, a The formation of the morning star. Those configurations are often followed by a bullying continuum and, again, that is exactly what was downloaded.

Buyers have been pushing since then and this morning brought a new four-month high to the mix. This opens the door to bullshit in AUD / USD, especially for traders looking for a deeper return on the USD-theme mentioned at the beginning of this article.

AUD / USD Daily Chart

AUDUSD Daily Price Chart


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