USDJPY has been caught in this downwards channel until finally an aggressive break. We then saw price gap up on the asia open at the start of the week before price correcting itself and as always filling the gap 142.400 will be the target now and alot of Dollar pairs setting up the advantage for dollar strength to come.
On the 1HR timeframe we can see EURUSD is setting up a bear flag (continuation pattern ) meaning i anticipate USD strength and to see EURUSD FALL FURTHER. Entry and confirmation would be a break and sell off from the lower bear flag trend line
Looking on the 1D time frame we can see a inverse head and shoulders hinting at price making a burst much higher to our possible fib targets. going down into the 12HR TF price is trading in a perfect 230 pip box or the right shoulder.Price is currently at a good RR level for buying as we can use support here to buy and also on what may be the bottom of the right...
Bull flag ( continuation pattern ) hinting at now we have broken the minor downtrend and re-tested the structure we can now continue up to test 94.000. A break of the upper bull flag trend line would singal its time to go higher and break this resistance.
Gap fill trade idea for today. Price almost pushed into the opening sell off where we can anticipate easy sell off to target the gap and like all gaps it must get filled. The risk on this trade is extremely low also making it more attractive
EURUSD looking to test 1.07363 area and a tend test would be in play here also. Depending on price action i think after such an aggressive sell off we may correct around 170 pips to 1.09200 before EURUSD decides where to next. i will be looking to long 1.07363 as long as the trend remains in tact .
Gold last week we saw $98 drop very sharply. Price to open the week i would anticipate a correction before any next moves. price has dropped to .618% fib level. We can see a demand zone level created previously at this current level. Correction to 1900 level would be nice to see if its tested at resistance. if so we could see price pushed further but the main...
Channel bounce off of the bottom trend line. Looking for a slight pullback to get a safer entry but see us pushing up to the highlighted zone to fill the wicks
AUDUSD in its current up channel is correcting but still has another 54 pips or so to go. You can see the best place to buy would be off the bottom up trend on the basis of a rejection but i have also highlighted 2 candles of interest where we could see buyers move in. looking for a buy near the 0.70000 level. This could trigger either a push to double top or...
GBPUSD looking to pullback after a nice bullish up push over the last few months. Looking at a 350 pip correction now we have printed in our double top. This would see us fall to the main trend line for a test .
Is it time for the main trend test yet? The charts are certainly indicating so, we have this rising wedge that we have broken out of but also a early H+S formation. We will need to give a few days to see if we get a right shoulder play out to confirm this but if so Targets next week will be 1902 & 1870 ish leve. 1920 still remains a solid support for bulls so a...
US DATA to be fair was fire yet we didn't see gold budge. I believe the news was a good stop hunt faking a small move up before the real move of the rising wedge formation plays out
Nice reversal pattern playing out especially as AUD has shown nice strength and the AUD price currency index signalled this move with a breakout of the reversal pattern. Price has broken and we can anticipate price to fall to 1.71247.
R:R basis selling here at 1.23350 is a good area to minimise risk. Price is now re-resting the pattern neckline breakout. Which we see its still to hit main fib targets. Finding resistance now would allow us to visit 1.22158 minimum
EURCHF is near fresh resistance so we could see sellers move in. Testing as resistance as previous support level. Good R:R so worth a good trade
With a 18 pip SL and a reward 6x greater than the risk this is an attractive trade. 0.92356 is the level we want to see support as this is a key fib level for going on higher. Risk is minimised so looking for a rejection on this level to go long
NZDJPY has been stuck in this sidewards range now. We printed a double bottom and a more rare triple top however price is now approaching the top for the 4th time with the JXY currency index retreated to the bottom trend line of its up trend but no break down. I am looking to see if we break to the upside which is prefered but if we reject i will sell this for a...
Price is in an ascending channel, as it is near the bottom trend line we should anticipate buyers to move in. Any break out of this channel could lead to a fall to the higher 1800 level