trends are looking bearish on the USDCAD, the MACD indicator doesnt seem to show a convergence pattern for now, but the parabolic indicator is showing a bearish pattern, this is on H4. also on this period, we may see an oversold sooner than we expect, so buyers should just keep a good watch on USDCAD pair at H4 however on D1 there still is a possibility of a LONG...
As an advocate of keeping things simple , according to my analysis the EUR/JPY will be following a Bearish Trend in the Channel. There is a possible retracement once it hits the upper resistance.
Notice breakout in the trend creating a descending triangular channel. The Markets are currently on the support of the channel and i highly predict a LONG position before a strong downtrend.
Take note possible formation of an Elliot triple combo wave WXYXZ . NZD/JPY will possibly fall to 176.000 or even below to retest support established 10 November 2016 and retested more recently tested 11 April 2017 level . I believe there will be a drop of just above 400 pips before momentum upwards.
I am predicting GBP/USD drops to the 1.31359 level before continuing with the upward trend of which it has been following since April 2017
I highly do not recommend any Short positions since USD seems to be dropping against all major currencies
Notice the downtrend on EUR/JPY . I would suggest you dont take any trades at this point. Rather wait for the market to retest the Support and use second and third candle confirmation before opening a Buy position. Also focus on the thin orange trend line , those spikes could easily Stop Hunt your SL , i believe momentum will carry on downwards towards the 131.742...
NZD/USD Closed at -0.45% , hitting its lowest mark since 11 May 2017
This is an area that’s been supportive in the past, so it makes sense that the buyers might be attracted. However, I still believe that it’s difficult to buy this market, least until we clear the 0.69 handle as it shows continuation of the buying pressure. If we were to roll over and break below...
This is to confirm our target Level of 112.004
When the markets re-open we could possibly see the downward trend continue to retest the support before shooting up to form a perfect Head and Shoulder pattern. I would suggest you close any short positions however my analysis is indicating a 111.750 hunt before a LONG to establish the right shoulder.
On 16 November 2017 i uploaded analysis on USD/JPY indicating the Head and Shoulder Pattern above.
There was a mistake and i failed to edit the Initial Long Investment Strategy that i used on the analysis
USD/JPY will be hunting the 112.044 Level in the next week or so before a probable upward movement to establish the Head and Shoulder Pattern
CAD/JPY has been on downtrend since September . Notice Trend Line E – F
Also notice Support on which current market price is currently sitting on. There is a great probability of a 500pip upward movement to 88.800 level . Once market breaches the the E-F resistance , our Long term target is the 90.766 Level. There is also a possibility of taking path A – B if...
USD/JPY is forming a possible Head and Shoulder Pattern on D1 Chart . 111.800 is the next Bearish Target with a probability of dropping to as low as the 110.800 Level
The Median Line is the line drawn from the A pivot, to bisect (through the median) of the B-C line.
Look again at chart above and visualize Median Lines drawn from each pivot (marked P) through the median of the next two pivots.
At this point you are seeing something far more familiar as the beginnings of the pitchfork.The upper and lower parallels are lines...
