Have been watching DXY Closely the last couple weeks, as I was anticipating this move to the downside
As we should all know with the dollar weakening, a good indication to Buy XXX/USD and sell USD/XXX
We have NFP tomorrow so will be keeping my eyes on the dollar index
Elliott wave had confirmed my idea of the move to the downside as DXY created a nice double ...
Have been calling UJ Shorts for some weeks now as price looked to be struggling to move up any higher
I'm expecting UJ to reach 112.350/400 area
Elliot wave has confirmed this downtrend, and with DXY also heading down this has made my analysis more clear
Will be looking for flag formations, before entering this trade
Watch on lower time frame for a strong bullyish engulfing candle
if we break the counter trendline, and close below it. we could be looking for some futher downside on this pair
However, using the Elliott wave, it has helped me to predict where I could potentially see price heading to next
We're in a uptrend channel - and I'm expecting the uptrend to continue ...
A nice buy opportunity happening for GBPUSD
As we can see on the 4hr there is a nice double bottom being created
Look for bullyish engulfing candle, before entering
Watch price carefully has DXY looks to be heading to the upside,
with the possibility of it heading to the downside in the next upcoming days
Have a nice elliot wave triangle set up, to confirm that WE MAY be heading down to the downside, Daily has created a strong bearish engulfing candle. I have marked off three areas as to why I expect to head
I also am expecting price to rise a little more higher, so have to remain discipline and patient and await for a good entry
A nice move of 100+ Pips could be ...
After price was conslidating a few weeks down the bottom. Price has finally made it's impulsive wave up.
I did call out this pair for a long a couple weeks ago
A good r:r trade set up here - up over +100 Pips
Lock in profits and Move up SL before NFP