sajastu

sajastu

Hi Traders, I've got EURGBP on my watchlist today. As you can see, the price is forming the corrective wave of the previous upward impulsive wave (Elliot theory). Today, I'm expecting resistance level 0.8694 to be broken out, and thereafter, there will be potentially a strong impulsive uptrend.

sajastu

Hi Traders, Based on Elliot's wave pattern, we see that EURJPY is on the corrective wave of the impulsive wave. The corrective wave seems to be composed of a flat ABC, followed by a neat triangle, which might be considered as the last stage of the corrective wave. Upon breaking out the triangle, I expect a strong bullish trend (impulsive wave). Watch out for...

sajastu

Hi Traders, We saw a strong downtrend in the pair recently. The pair now is vacillating inside a bearish upward flag. We will potentially see a breakout, a possible pull-back to retest the resistance trend line, and another strong downtrend movement. If all these conditions are met, then we will be able to go short to the next support level. Have a safe trending all!

sajastu

Hi Traders! USDJPY's RSI is on overbought state, and I expect a pullback to the previous support level (which was broken). The previous support is expected to act as the resistance, and the price should ideally go down to the next support level, which is also in line with the Fibo retracement line.