That much anticipated W has finally formed after a graceful fall of the CAD. After braking the weekly zone in yellow it has now approached the monthly zone in red which I think will be harder to brake this time after such a fall. Sellers have indeed been in control for a long time but they can't hold forever and so am leaning towards a bullish trend in the long...
The EUR/CHF has reached a weekly support (yellow) and is already showing signs of dispair, right below it is a monthly support in red; I doudt it would have the momentum to brake through both supports. The overall wave or trend analysis is shown by the arrows that form a perfect W with the final wave lower than the previous ; an obvisous signal to prep for a long position.
EUR/CAD has met a weekly supportand right below it is a monthly support line, just basing off an analysis of previous weeks it will most likely not brake but proceed bulishly! Am looking to go long should things stay the same.
After a long fall, EUR GBP hit a monthly trend line and starting rising a few days or weeks ago, possible long move that may take time to materialize, but would most likely go long!
After a long fall, EUR GBP hit a monthly trend line and starting rising a few days or weeks ago, possible long move that may take time to materialize, but would most likely go long!
The AUD/CAD has reached a weekly trendline and slightly broken through, I marked out the yellow arrows one going up and the other a longer one pointing down to show that depending on trading tomorrow we will know whether to long or short... I am leaning towards a possible short though not 100%.
Possible short on this one just looking at it form a glance, but it's #a tough one to call and so i will leave it up to your imagine to fill in the gaps. This may either respect the resistance line or brake it, though form a gut feeling I think it may go back down just on the fact that the rise was supeficial as it was all a responce to the British elections.
Due to the elections GBP has broken several trends and has risen beyond the norm till it has now found a monthly resistance. Starting tomorrow I expect to see a retracement which if conditions allow may take it down to it's daily trend as shown on the chart in the green parallel lines. Another resson for this is the price rejection at the current level it's at. In...
