USDCHF Daily on the left, identifying an inverted head and shoulder formation, with the blue line being the neckine, as well as the trendline drawn on top where we have broken above, and looks like we are coming back down for the retest of both.
H4 on the right, our key fib zone (61.8%-71%) line up with the retest of the trendline + neckline, as well as...
EURAUD on the H4 time frame, is showing clear signs of rejection of a key reversal zone.
We also have MACD Divergence.
With me previous analysis for a bullish AUD, I have a bearish expectation for EURAUD for the rest of the week.
Simple 12H analysis on the USD Weighted Index (not DXY)
Seems as though we are creating a 1-5 elliott wave, and reacting strongly to the drawn trendline.
I expect the market to form the final wave, completing the elliott pattern, and for the impulse to be exact same size as the first wave, which will then bring us to the marked zone, which is a very key weekly...
The chart shows the JPY weighted index on a daily time frame, creating a bearish bat harmonic pattern.
Furthermore, the last 3 daily candles together have formed a three pin pattern (Evening Star formation) indicating bearish reversal.
I expect JPY to start showing signs of weakness in the next couple weeks across the board, meaning potential XXXJPY buys.
NZD weighted index on the 12H time frame, we can see the market has tapped off a previous zone of reversal while creating convergence on MACD, and creating an inverted head and shoulder formation.
Seeing as NZD and AUD move the same way, and both currencies look very bullish, I expect NZD to gain strength across the board for the next month or so....
BTCUSD (bitfinex) chart, although we have seen a strong rally to the $6500 area, we are still showing strong signs of divergence on MACD on both shorter scale (shown on the chart) or larger scale H4 and Daily divergence.
In my opinion, this rally to the upside provides a fantastic opportunity for some manipulation, to trap the buyers who enter due to FOMO (Fear...
AUDJPY H4, showing signs of very strong convergence, market clearly going the opposite way to our indicator.
A counter trendline has been put in place for more clear break and retest and entry scenarios.
Targets are also drawn.
On the right we have AUD weighted index H8, where we can see it has tapped off a clear demand zone, I believe we can see some reaction,...