Wednesday 3rd of August

Good morning folks! I hope you are all well!

Let’s dive straight into the watchlist?

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FX Watchlist

AUD/CAD

Aussie Canadian strongly rejected a previous area of supply, let’s see what happens if we reach the area of demand, we are currently resting on the trendline we broke, so it’ll be interesting to see if we get a bounce or not

CHF/JPY

Worth mentioning in case we see a bit more bullish price action

EUR/AUD

It looked like we were going to have a new area of demand today, however, the daily candle didn’t close as I expected it, (the wick size was too big in proportion to the body) which makes it interesting for today/tomorrow, will we get a valid area of demand or not?

EUR/CHF

Euro Swiss is also in an interesting point, we are currently breaking out/ testing the descending trendline, only time will say if we have a valid breakout -that being said we also have an area of supply just above the current price action so let’s see

NZD/USD

Kiwi dollar is the last pair I have on watch for tomorrow:

Take care folks!