EverythingForex

6TH - 10TH JUNE WEEKLY WRAPUP & UPDATES (PART III)

FX:EURJPY   Euro Fx/Japanese Yen
6 months ago
I release a Weekly Wrapup & Update every week to all my subscribers on my website. I am re-posting it here but in a limited form due to posting restrictions. If you want to see the COMPLETE post, you are welcome to get it from my website. I am also splitting this post in parts as it is too long to post in one post. So this is Part III             of this post. Look for Part 1 & 2 if you have interest in seeing the rest of it. If you want the complete post including more detailed 4HR charts, please go to my website to get it. Weekly Updates are free. Keep in mind that these updates ARE NOT my full analysis and are just my opinion as to the short term direction of prices.

EURJPY
It is making a bottom here and may still drop a little more but it is currently in the "overthrow" of the leg E of an ED. And within that larger ED, it is finishing a smaller ED. When all this is done, we will see a HUGE reversal take place.
DAILY CHART
snapshot


NZDJPY
What we could've seen happen in the past weeks was the completion of a truncated wave 5 to complete the larger wave (A). That truncated wave 5 may have ended with the completion of a wave (v) ED. And last week's breakout of that long sideways pattern could be just the start of a large upswing. We'll look for prices to drop back down off the rejection of that upper TL of the ED and then for it to turn around and retest and then break that TL.
DAILY CHART
snapshot

AUDJPY
What is apparently happening here is that prices are trading within a range which is a bear flag for a continuation lower. Probably will make another small move back up and then head down to breakout of that flag and head lower to complete the wave (v) and the overall wave B. After which, we should see a HUGE rally back up.
DAILY CHART
snapshot

USOil
We saw oil             hit the $50 level in the past week. And then it withdrew from there as expected. But then it broke through and hit the $51 level. And then got rejected and is now headed lower. BUT...what I see is a REAL possibility is that this rejection off the $51 level was only temporary and that we are going to see oil             rise up and possibly head towards the $60 level soon. We'll be looking for signs that this small drop is ending and looking to BUY again. But we'll need to be careful as it can't be ignored that prices have broken the MAJOR uptrend TL and that could have signaled the end of this uptrend.
DAILY CHART
snapshot

GBPAUD
Last week, this pair continued to drop off the highs in what should be the wave a of a larger wave (b). We should be seeing a bounce pretty soon from the completion of this small wave a into the wave b of (b). And then another large drop down in the wave c of (b).
DAILY CHART
snapshot

XAUUSD ( Gold             )
Gold             is now still within a correction in what should be the wave 4. It dropped off the highs from the wave 3 ending in what should be the wave (a) of 4. Since the lows of that wave (a), prices have moved back up in what should be the wave A of the larger wave (b) of 4. From here I am expecting prices to retreat back down in the wave B of (b).
DAILY CHART
snapshot
6 months ago
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Gwoog
6 months ago
Any thoughts on the NZDUSD pair?
Reply
EverythingForex PRO Gwoog
6 months ago
Please read my post thoroughly! I have posted this update in 3 parts. Read the other parts.
Reply
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