CADJPY brk from the descending wedge this morning will have a potential opportunity to the 96.10 then to the 95.90/
A pullback (or sq up) to the 96.65-70 before another break out to the bottom would be really nice.
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These comments are for information purposes only. Opinions, market data, and...
Daily chart inside a wedge at the moment. Waiting for the break of the wedge to the top. A pullback to the 0.618 Fib will be interesting for us to take the bounce.
On our radar for the following weeks.
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Just like we anticipated the move from yesterday gave us the 60 pips to the top of the channel.
Now, we'll be looking for the square up and continuation to the 1.5400 or the move to the downside once they break the 1.5300 -
Both scenarios are here in the chart. === best trading to you guys...
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IMPORTANT...
Waiting for the completion of the 4th wave and looking at the whole structure – WAITING FOR THE HIGHER PROBABILITY TRADE — ALWAYS.
The structure is telling us they need to do an A-B-C, the question is –Will they do it?
Or are they going to do a complete square up to the 1.53600 THEN give us the sell to the 5th wave.
Let's wait for the higher probability trade....
USDJPY currently at 102.43
We’ll be waiting for the completion of the C wave to the downside (where we have some support at the 102.20-102.30) BEFORE we take the bounce to the top once again.
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EURNZD currently @1.5540
Currently inside a wedge and waiting for the direction out of it. Remember tomorrow Wednesday we have some NZDUSD fundie news, so be aware of that before trading.
For both trades, we need confirmation after the break to see the continuation. Make sure to use the 60-min chart to see the correct entry for both LONG and SHORT trades
EURAUD currently @1.4417 - not doing much yet. Currently inside a big wedge in the 240 min chart and waiting for direction out of it.
But if you look at the EURAUD 60-min chart, we are inside an ascending wedge with a potential 30-35 pips once we break out of it and continuation to the top 1.4460-80 levels.
Both potential trades would be as follow:
LONG ENTRY...
AUDNZD currently @1.0789 giving us a head & shoulder pattern right at the top of our Channel for a potential square up of the move from last week.
Let's wait to see if they will violate the H&S by going higher, If not take the short below the neckline @1.0770 - or even before the break at the current level of 1.0790
ENTRY: SHORT @1.0770 STOP 1.0800 TARGET...
EURUSD Currently @1.3520 inside a wedge and developing an Inverse Head & Shoulders.
Waiting for a bounce of at least 20-30 pips from the current levels to the 1.3540-60.
Take in consideration we have a past support of 1.3475-85 level, so place your trend lines and take the break (counter trend) once we get the move to the upside.
Get your entry by going to the...
Currently the CHFJPY is at 112.73.
CHFJPY setting up for a nice 25-50 pips to the upside. Structure says, we'll be looking for the 4th wave completion to the top of the current channel. Once we break out of the current falling wedge, we will have 2 targets @113.05 and 113.25-40 level.
Next week, we'll be waiting for the move out of the CHF once they reach the...
Currently @113.14, the CHFJPY is getting close to a potential bounce.
The pair is inside a BIG BOX, going from Top to Bottom .... if we bounce, we will be stopping at a potential PSR (Past Support/Resistance level, for more info on this, visit www.forextradingzones.com). The past support @113.50 and 113.60 are our potential targets.
IMPORTANT...
EURUSD currently @1.3522, after the completion of our D extension now we will wait for a bounce of at least 1.3560. Take in consideration we have a past support of 1.3475-85 level.
If we take a LONG TRADE now, we might have to be under water by 20-25 pips.
So, go to the 60(min) chart and 10 (min), place your trend lines and take the counter trend to 1.3550-60...
Cable currently @1.7065, and we are waiting for the potential move to the downside @1.7010 --- If not be aware of the move to the top of the bull flag and the break to the upside potential of 1.7170. Best way to trade it, an O-C-O order.
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These comments are for information purposes only. Opinions, market data, and recommendations are subject...
NZDJPY currently @89.50 with some resistance 89.50-55 level. Head & Shoulder pattern, if they don't go over the 89.80 WE ARE GOING TO THE DOWNSIDE -- potential targets 89.20 AND 89.00
GBPJPY currently @173.43 getting close to break of the bear flag - This will be a continuation to the 173.00 and then the 172.70 Fib extension.
Get your entry by going to the 60 min chart - and confirmation out of the 10-min. Always trade with price action and never trade without stops.
IMPORTANT DISCLAIMER:
These comments are for information purposes only....
AUDUSD currently at 0.9395, with a potential break of the flag below 0.9380 we can get a target of 0.9340-20 area,
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These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade...
GBPUSD stalling at the 1.6800-1.6825 level... We'll be looking for the completion of the 5th wave, with 2 targets - the 1st target to the support line around the 1.6700 then the 2nd target to the 1.6600.
Entry SHORT @1.6815-1.6825
STOP 1.6860
1st Target @1.6700
2nd Target @1.6600
Potential short once again at the top of the Daily Chart before the continuation to the 1.5240. Based on our analysis a short trade at the 1.5115 - 1.5125 will provide us a retracement to the edge of the channel at 1.5050.
Entry: SELL @1.5115-1.5125
Stop 1.5145
Target @1.5050
