Forex Market Review on July 31, 2017
USD/CAD: USD/CADwas a nice trend but now the trend is not good for trade because we saw already previous lower high is broken by higher high on the H4 chart. But there we can see other confirmation for going down again. We have got the double bottom. If overcome the double bottom then trend could be on their way. So we need to wait to get better confirmation.
NZD/USD: NZD/USD is still now uptrend. There could be a good news for NZD/USD lover that is the near restriction already overcome. So there is high chance to reach to the next restriction zone.
AUD/USD: AUD/USD is making a upword movement but there is no any good confirmation from any indicators to take a position. so if would like to take any position so you must wait for confirmation.
EUR/USD: There is not the right time to take long or short because we can see uptrend on the EUR/USD chart even the previous restriction was overcome. But we need better confirmation to take a long position. And that is 200MA on the weekly chart. If the EUR/USD can break the 200MA then that will be the best confirmation to take a long position.