fxgraffiti

fxgraffiti

I just noticed that the year long rally in the euro can be seen as an ABC corrective wave with a triangle forming wave . Leg appears to have run its course.

fxgraffiti

MACD in a potential bullish setup. Sterling finding support in the cloud and 50EMA. EW Wave IV triangle could resolve upwards. Overhead resistance may prevent wave V from reaching the wave I equality TP.

fxgraffiti

I meant to publish the daily chart suggesting that you look at the 2h and show the hidden text.

fxgraffiti

MACD bullish divergence. Chart has hidden text best viewed on 2h which shows a little more detail on the ABC correction.

fxgraffiti

Triangle.

fxgraffiti

Something to consider...

fxgraffiti

The correction in AUDJPY may not be quite done just yet. We could see a false breakout over the 0.5 retracement with rejection at the declining TL and an eventual decline to retest the 0.618 support level. Any views on the plausibility of this scenario?

fxgraffiti

I've drawn a few TL's and S/R. Looks as if the Bulls and Bears have both tried to move this and failed. Could be moving sideways for a while. There is also possible resistance (not shown) at the 61.8 retracement of the June 17 high from the July 9 low at 1.53920, very close to resistance drawn at 1.53837.

fxgraffiti

I was struck by this chart, but I'm a newbie at this.