EURUSD is currently sitting at a key fib level. This area has been watched as a level for profit taking. In the large picture the area could very well be an area that the market pivots or makes a correction for a move lower. Keep an eye out for the 1.0121 and the parity level at 1.0000. That fib range has a much stronger cluster which should cause a very trade...
Larger structure wise the pair is choppy and that means correction. Pair already sold off on a 50% retracement on the larger picture. Right now im watching structure and retracement levels to get a clue where this pair is headed. We may just have a run for the long term 618 retracement "not listed on chart".
GBPUSD is currently at a strong fib / harmonic zone. Price has already hit the 200% level of the prior correction. As for lower levels I just dont have enough data to find the next target if price continues lower, ill need a correction of some form to get those levels. For now this is the strongest one. Im expecting this level to give some support to the upside. ...
The DXY US Dollar Currency Index is currently sitting at a minor Fibonacci cluster. This area could hold, however we have a much stronger level located in the the 105.20 to 106.00 area. This area will offer much stronger resistance for a correction or a measured move lower
AUSUSD is sticking within its corrective channel. The DXY 0.01% is weakening at the moment and this pair could continue in the channel. A break below and lower target will be under attack. Risk to Reward is best on the short side, hold if break above.
GBPUSD has reached a mid-pivot level that is also at range support. The bottom resistance level is actually at S1 however there is no denying the mashup of support levels for us to keep a closer eye at this level. Slower stoch is showing a rise in price and faster stoch is still showing price can go lower to the S1 level before reversing. I am on the buy side on...
USDCAD is finding resistance at the monthly mid-pivot. Long term stoch is still showing downward pressure as the the faster stoch is showing upward momentum. I'll be watching this level next week as I dont think any volume will come in this close to the weekend.
I believe the USDCAD is reaching the next swing level. With pivot points lining up and an approaching AB=CD formation coming to an end on an harmonic level, the pair needs to watched closer for a swing entry. Stochastic are starting to top the 21 and faster speeds. These are all starting to signal a good entry location.
The arrow is just the location where allot...
