There is a potential double bottom set up @ 0.5 fib retracement in the day/week chart. -Long-term trend and the cloud held pretty well -Stoch & MACD looks good -RSI could form a break out See next week if we can stand above 8275
AUD looks like building a bottom right here. -Held 0.71450 lvl pretty well. -Slow stoch at a pretty nice lvl and crossing -Many are reducing USD position as it walks into Jan 20 -Currently at a multi-year triangle bottom Risk including CNH depreciation trend Long and looking into at least 0.73822 Could wait for the entry due to we are at a high of downward...
Trend top AB=CD finished Expect pull back to 6.91783 (day chart support)
Quite important level reached. Previous longterm retracement was only 0.5 Expect some sort of pull back due to this red resistance area
Thinking short for now. Range 100 - 111 is an area that USDJPY always fluctuate. Every time when the px came from above 111 will find its support around 100-104 and bounce upwards. After this bounce, px always finds resistance around 111 and come back to 100 level again (no matter DXY is rising or dropping). So I am closing out my longs for now. Looking to short...
Daily Chart: - The pitchfork worked well, and we don’t have a price failure - Currently in a downward wedge, might be able to determine a direction tonight due to NFP - The double top pattern seems to be working, with a target pretty close to the key support level of 2153.5 - Quite close to test the 50MA. Break could result in another deep drop Weekly...
Potential AB=CD pattern, but 0.886 level (50) is hard to pass. So there are 2 possible scenarios 1. Purple. Complete AB=CD pattern, tgt @ 54.94 2. Purple & Green. Px failure, and could drop to test the hagopian line. On weekly chart, there's a potential IHS pattern waiting for confirmation.