So there's a reasonable expectation for the EURUSD to correct after the huge rise seen these days. There are several old zones (suports and resistances) that could work, yet the H4 could prove evidence otherwise. Fundamental factors do in fact point to EURUSD not getting back to the pre-draghi levels in my opinion, but it rather depends on the NFP data tomorrow...
What I have included on this chart: A fibonacci Retracement
A resistance line at 0.76812
A rising trendline underneath the lows of each swing low
The resistance line and trendline creates a wedge pattern since the end of May unti the present; observing this...
This is a short term bullish head and shoulders pattern, it's clean and working well, there's plenty of time for entry and the move up into 114.50 area.
Stops should be below the right shoulder, target at 114.50 and entries around 113.90/114.00
Let's make some pips. Done. Period.
It seems like the Dollar is a better safe haven play for investors. This is largely in anticipation of a rate hike towards the end of the year. In the near term the 106.00 level works for me.
Stand a buy on Aud/Jpy, profit target: 81.00.
If Aud/Jpy hits 81.00 resistance and fails to break it, it's possible that Aud/Jpy retrace back to AD's 38.2%--79.2,50%--78.7, 61.8%--78.2.
Thiw is my view about EUR/USD. I think the pair would move downwards to the area of 1.077, where fibo extension and retracement co-exist. I am waiting your comments.
The dollar index is showing some short term signs of correction/bearish movement. We see a rising wedge and 3 consecutive missed weekly pivot points, that's a pretty big deal.
I'm not trading DXY but I am trading USDJPY, EURUSD and USDCHF so this chart will dictate some future positioning on those pairs.
If DXY moves down to at least 98.40 area that could...
#GBPUSD | USD very strong versus very weak GBP on daily time frame. Currently the price has hit the weekly high and bounced from this level>
Momentum as such is good to seek for possible GBPUSD on sell side based on the weekly CSS trend.
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Long Opportunity for EURNZD:
-RSI close to over-sold
-Candle hitting 150MA
-MACD ready to turn bullish (hitting support line)
-Candle hitting BB
-Stochastic Indicator also showing clear long
-Structure: support line
-Long term and short term Fib levels coincide with support line
Could be a good opportunity for quick pips
AUDUSD, EURJPY, USDJPY, AUDNZD, NZDCAD and many other currency pairs are all setting up for 500 pip plays and we want to be ready for the action!
DXY needs to confirm with a clean break out on the daily chart (it's nearly there) and we need to get past FOMC minutes on Wednesday but barring anything super crazy happening there, we should see a clean move on...
