AUDUSD - Stalls close to the previous high. Look for a correction.
Weekly – Completes a bearish 5-wave count (Elliott Wave). Expanding wedge offers a long to medium term bullish bias.
Intraday – The three-hour chart looks to have completed a 5-wave count to the upside. Bespoke resistance is seen at 0.6997. We...
Although USDCAD has posted two ‘Inside Days’ (which highlights indecision) there is no clear indication that the selloff is coming to an end.
Bearish expanding wedge on the weekly chart with a DeMark 13
Broken the wedge formation on the daily chart
Intraday chart is holding inside a corrective channel
as the same break down as before... thinking dollar has made the high of the year so we just want to be jumping back on the retraces around the 96.80 level then hopefully should have expansion towards the 92.50 level as the long term big target which I think we will get there...
Trade idea – GBPUSD – Close to resistance. Scope for a correction lower to buy into
Monthy – Bullish wedge formation
Weekly – Possible ‘Outside Week’
Daily – Bullish Morning Star
4H – Close to resistance and DeMark 13. Scope for a correction lower
We look to buy at 1.2580 target 1.2745 stop 1.2580
Caution - UK Figures...
Weekly – Bearish Outside Candle with bearish expanding wedge pattern
Daily – Breaks the wedge to the downside. Measured move 1.3115. Outside Day posted yesterday
We look to sell at 1.3400 Stop 1.3440 Target 1.3115
Economic figures could adversely affect the short term technical picture.
Been monitoring this trade since last week Monday. Saw the support zone for last week overall trend reversal and now letting the pair produce a bullish channel.
It the current candle which opened this evening closes above my line @110.189, this will show that it has broken previous daily tf resistance.
Target Price @111.459