EverythingForex

18TH - 22ND JULY WEEKLY WRAPUP & UPDATES (PT.3)

FX:EURJPY   Euro Fx/Japanese Yen
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EURJPY - NEUTRAL
This past week saw this pair continue moving higher from the advance that was started last week. But then towards the end of last week, it halted and started consolidating. This consolidation should continue into this week heading down lower into a support zone before reversing and continuing another move higher.
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NZDJPY - NEUTRAL
It just keeps moving sideways.....still. But last week saw this pair drop back down into that sideways consolidation after trying to break out the previous week. But it is doing so in a clear bull flag and when it breaks this flag, it MAY explode upwards and finally break out of this sideways pattern.
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AUDJPY - NEUTRAL
Still trying to work it s way up to that upper TL. Currently consolidating in what could be a triangle pattern but could still drop down before it moves up.
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USOil - NEUTRAL
This is a commodity that is in trouble! What does that mean? It means that it could be dropping again and that could spell disaster for some countries! But what does it mean to us? It means OPPORTUNITY! As long as we know that it is headed down, we can look for a chance to sell.

Read my just released post on USOil: (P) USOil: Could We Actually See $30 Again?
(Premium subscription required. Get detailed DAILY updates on this pair and many more! Subscribe here to read it: Get 50% discount Premium Trial offer)
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GBPAUD - SHORT
That MASSIVE move higher is going to have to wait some more. Recent price action shows that there is yet another move down to come before we see any MASSIVE move higher. See my update post below for details. Read my post-NFP Analysis on this pair: (P) GBPAUD: Not At A Bottom Yet. (Premium subscription required. Get detailed DAILY updates on this pair and many more! Subscribe here to read it: Get 50% discount Premium Trial offer)
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XAUUSD ( Gold             ) - LONG
Gold has been making a correction off that strong uptrend the past few weeks. That correction may have come to an end at that "critical zone" I have marked on the Daily chart . That zone is an intersection of an strong uptrend TL (blue) and a previous uptrend TL (red) as well as a MAJOR (W) SR structure. That could halt the correction and send prices back up to resume the trend.

Read my update on Gold here: (F) Gold: Reversal To Resume Main Trend...Temporarily. (Free post. No registration required)
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*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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Reply
Mx70
4 months ago
Thank you very much sir.
Great to read your comments here.
Thanks again for the insight & God bless
Reply
EverythingForex PRO Mx70
4 months ago
You're welcome. You can get more at my website and my Skype group.
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