Shown in chart.
I really like the setup of AXY and hopefully daily candle closes below long term resistence line which would be even a stronger indicator that we are looking to test the support line at least.
EURCHF short till it hits support line where a perfect opportunity to buy presents itself. Nothing complicated here.
Institutional Orders: Bank of Morgan Stanley are a buyer of this pair. Their Stop loss of the buy order is at 1.0850 for the ultimate target of 1.1250
Overall bearish sentiment on AUDJPY. We had a fakeout to the upside ( not shown on chart) however with further analysis the fakout candle to the upside was created to form a new resistance trendline and to respect the price action. ( Sorry if that does not make sense).
Arrows show my prediction in price action.
GBPJPY travelling in a channel. Expect the price to be travelling in the channel until price action reaches daily/weekly resistance line where sellers will be ready to sell.
Bank of Canada will announce their interest rate decision on 4th December. Any decision will majorly affect any Canadian currency pairs. If trading with news I would recommend placing a BUY stop or SELL STOP.
If USD continues to weaken and the interest rate remains the same a massive to the downside would be basically confirmed
Price has almost completed head and shoulders pattern and touching the top of the downwards trendline. Major confluences to sell when price reaches there very soon.
Travelling in a channel. Retracement needed to pink area before a final push down to touch the trend line channel bottom.
If price is able to reach the bottom of channel, I will also be looking at the possibility of buying there.
I think we will test the 0.64250 region where buyers of this pair will close their positions and we will see a big rejection/daily wick and in December this pair will be short.
