Looking for short trades this coming week on CADJPY... We have had several rejections from the topside supply level, there is a chance we could get one last stop hunt high into the higher supply zone. Let's wait and see what price action we get into next week. Pay attention to Monday, and wait for the daily close to confirm directional bias.
AudJpy is currently at a minor level of resistance/supply level which we can see some bearish pressure to the downside. After that I think if we pull back into the killzone drawn we can potentially get a retest of the highs due to the strength in the uptrend.
My BIAS for EUR/USD for the upcoming week is NEUTRAL.
My reasoning behind this is
-We are currently at an area which was previous 4HR Support/Resistance .
-We could see a break above 1.11600 and look for Buys up to our Supply zone at 1.11800 or even higher to our Daily Resistance at 1.12150.
-We could also see rejection of our 4HR Support/Resistance and a...
My current BIAS for GBP/JPY for the upcoming week is currently NEUTRAL.
The reasons behind this are
-Price is within an ascending channel forming HH & HL, we are currently at our bottom line where in the past we have seen bounces to the upside so we could again see that aiming for our Daily Resistance at 130.480. BUT we have been within this uptrend for about 10...
euraud daily shows a channel. 4hr and 1hr shows a smaller channel within daily channel. 15 min shows all the correctional moves and where price will move likely.
waiting for price to make another correctional phase so I can enter.
Anticipating Ping-Pong between 4Hr support and the Daily established supply zone prior to a drop.
TP 1 at 4Hr Support
TP2 at 0.87 (Last consolidation zone)
TP3 at Daily support
Lets see what happens...