Will be looking to short GBPCHF at 1.4010.
Nice round number just above 1.4 and RSI already oversold.
Overall bigger trrend is down.
High probability setup.
EURJPY is likely to complete a deep gartley pattern at 121.88. (Factor in your spreads for entry)
This is the price I am aiming for my entry hopefully by this week.
I hope to see RSI hitting oversold, this is a daily shark pattern which can easily hit 61.8 retracement of the C-D leg.
Potentially a 1:8 risk to reward trade setup.
With the trend short of a bat pattern. This is the same as the AUDUSD idea, but I prefer this more due to the resistance and the bat pattern gives better R:R. It is likely both patterns will happen at the same time.
EURCAD is still on the uptrend. There is a pattern to short around 1.48.
Short term trade with a risk of 25 pips with entry around 1.471 and target 90 pips.
Short time frame alert. With the downtrend at the round number of 0.7400. Watching this for a continuation move to 0.7320 where we will look to long. R:R is about 1:3.
RSI is not suggesting that this pair is ready to fall big time.
I will go short only with a retest of 1.16, preferably with a smaller harmonic pattern in the lower timeframe.
Be patient, it could happen end of week or next week.
The USD bears are finally weakening?
The EURCHF pair is a turtle but there is another reason for us to look for a short around last week's high. In fact the previous week's high is around the same area which proves to be a strong resistance. I am looking a the 1.1015 level for a short.
The first Tuesday of the month usually has the AUD rate call.
There is some expectation of a rate cut on the AUD. However we see a good opportunity to long AUDCAD at around 0.95.
In addition to being a round number there is a bat pattern at this level and also an M30 pattern as well.
Gold completed a bearish shark pattern in mid May 2016.
Price reacted to that level.
1 month later, this level is retested and broken above.
Price action in the next few weeks is very important.
Any further strength, we could see Gold back at 1350 or higher.
Any steep drop back below 1280 could prove the validity of this pattern and we could see Gold trading...
