Short time frame alert. With the downtrend at the round number of 0.7400. Watching this for a continuation move to 0.7320 where we will look to long. R:R is about 1:3.
RSI is not suggesting that this pair is ready to fall big time.
I will go short only with a retest of 1.16, preferably with a smaller harmonic pattern in the lower timeframe.
Be patient, it could happen end of week or next week.
The USD bears are finally weakening?
The EURCHF pair is a turtle but there is another reason for us to look for a short around last week's high. In fact the previous week's high is around the same area which proves to be a strong resistance. I am looking a the 1.1015 level for a short.
The first Tuesday of the month usually has the AUD rate call.
There is some expectation of a rate cut on the AUD. However we see a good opportunity to long AUDCAD at around 0.95.
In addition to being a round number there is a bat pattern at this level and also an M30 pattern as well.
Gold completed a bearish shark pattern in mid May 2016.
Price reacted to that level.
1 month later, this level is retested and broken above.
Price action in the next few weeks is very important.
Any further strength, we could see Gold back at 1350 or higher.
Any steep drop back below 1280 could prove the validity of this pattern and we could see Gold trading...
EURJPY is poised to rebound upwards around this 122 level.
Currently waiting for a final test back to the low of this week for a long.
RSI Bamm present, waiting for final RSI oversold test in H1 chart
