EURO has hit its minimum target for the ending diagonal on the daily chart. Next week can start to watch for potential shorts in EURO in general. Strong pairs like EURAUD, EURCAD and EURNZD would provide indicator for weakness in EURO in general. EURGBP at 8940-9050 should either breakout or breakdown from there. EURUSD is a tough trade honestly and any EURJPY ...
In general I'm kind of sceptical to the AUD right now. The economy is in a dubious situation, employment and mortgages are not uplifting. But let's not worry about this right now!
This is a mean-reversion trade setup, with AUD bouncing for the edge of its range. Price action has been forming a wedge for a while now, so breakout might come in the next week or two, ...
This currency pair has historically shown beautiful wave symmetry and I think we are in a 5 wave up and at the start of wave 3.
I missed the upward trailing bar, but as luck would have it, had I entered I would have autoclosed. So now I'm waiting for a 1 bar trailing to cover a higher high and have stochastics cross not too close to the overbought 80 zone in ...
Here's how currencies are looking on the weekly TF:
EUR Falling hard
GBP Falling somewhat
AUD Starting to rise
NZD Falling and starting to go sideways
USD Rising hard
Sell EUR against AUD, USD, JPY, CHF
Sell GBP against AUD, USD, JPY, CHF
Buy AUD against EUR,GBP
Buy NZD against EUR,GBP (risky)
Buy USD against EUR, ...
The AUDEUR has been in a predominately bearish trend since early 2017 with no signs of stopping. The pair has been trading constructively in a pitchfork formation mostly between the 0.5 medians. After the trend line that began in 2009, confirmed in both 2015 and 2016, was broken price action accelerated down rapidly confirming the major break continuing the ...