AJ setting up a reversal pattern. We also have price up sitting at the main trend now is a good time for a good minimum risk maximum reward trade profit
Short term sell off, we could have a double top as we visit fresh supply zone. Targets marked for profits
Looking at silver we have failed to break out the main down trend and on the 4HR TF we have broken down and out the up trend. This leaves spaces for us to now retrace however all eyes on thursday with inflation reports to fuel this
Not a long term trade and i anticipate this to be played out quickly due to the 30M TF set up. Looking for a cup and handle pattern as USD shown some minor strength today
GJ looking more bullish. GBP shown real strength the past few days after breaking back above the £ currency index right shoulder of the h+s pattern. Bull flag again is a continuation pattern which looks like we are going to 162.300
USDZAR has broken its current up channel and is now currently consolidating after testing structure. I see us in a abc at the moment Wave down to see in effect target on screen
USDNOK has seen a reversal pattern formation. We have also seen DXY retreat last week as fears of the fed rate hike eased a little allowing the DXY to print a new low. DXY could see a move down to 102 allowing more dollar weakness and this pattern to play out. All eyes on thursdays inflation data
AUDUSD has now broken above resistance changing my mindset from bearish to bullish all depending on the retest. we are looking to turn resistance into support before a possibility of going higher
Not much to say AU is seeing strong resistance and is a good minimum risk point to enter a sell. Invalid if we breakout so lets see what asia session has for us
GBPJPY looking very bullish towards the end of the week. Looks like we are in a wave 5 which indicates price should be pushing towards 161.000. More incentive is the BOS ending the down trend
CADJPY has now had its visit of fresh resistance. We have confirmed sellers and now have a breakout of the rising wedge pattern. I look to see sellers now take full control down to 95.9/95.8 area where we have seen a lot of bullish movement forming support.
Here is an in depth analysis of AUDNZD. We can see the down trend has now change with the LH been taken out and at the bottom there was a reversal pattern to indicate so. Currently price is currecting after a bullish impulse and we look to get another wave of 250 Pips up which seems to be the average more per move
Potential for a reversal pattern here today. The DXY went very bullish yesterday and today we have lots of US DATA MAINLY LOOKING AT THE UNEMPLOYMENT DATA. 1845 looks to be the top for tosay for me targeting 1833/ 1827 (neckline) / 1790 which would be a BOS but lots of data making it easy
Looking to find some sort of support at 70.00 and may double bottom. The overall main trade though is this falling wedge pattern where we may see bulls make a break for it and test that important 82.00 level. A break of this previously tested level would result in a poss move to 95.00 but we would need some big driving factors or a big new event to come
Currently the down channel has been broken by the DXY exploding out its chanel. However wait until the pullback and re-est of the 133.000 zone before entering longs to test previous resistance at 137.400
Looking at gold we could be seeing a smaller timeframe bull flag being created which could go as low as 1833. However we have some big resistance at 1875 from the previous breakout of the 2018 trendline. I ill be watching for selling pressure on a big scale between 1875/1879
We see a reversal pattern forming for the australian dollar. The main driver for this is china opening back up trades routes. Australia is a massive coal exporter and its biggest buyer was China who for some time now had not been doing business with Australia however this is now all changing as China look to green light the coal exports again. Not only this but...
Looking at AUDUSD the original head and shoulders set up is now invalid however we seen a clean rejection from the previous top now creating a double top. With the FOMC we could see the Dollar strengthen since JAN / FED are typically strong months for the dollar. That would help fuel a fall to test the previous breakout neckline at least