Eddied01

Eddied01

EURJPY has staged a recovery and since it started from above 132.37 the larger trend can still be considered as being pointed toward higher levels.  We could see a push to a new high above 133.62 that should be followed by an aggressive move down See below a previous posting with some more comments. Wave B in the chart below was not done yet and could end at 133.8

Eddied01

Wave E could be completed now and Natty should head up for a while from here leading into the winter A close above 2.88 will strengthen the upside view See below for shorter term view

Eddied01

If the correction top is not in, allow for the pair to reach 1.2563 where it should run into stiff resistance See below for a longer term view - Potential cup with a handle forming? also below a previous posting with an alternative view whereby a new bottom could be formed

Eddied01

If the pair stays below 1.336 it should head down. A break of this level could see it head for 1.341 - 1.345 See posting below for more comments

Eddied01 Updated 

look for price to bounce correctively in three waves to above 1.3101 and into the mid 1.31s or alternatively to the 1.32 area. Once this corrective move is done it should head down again to another new low

Eddied01

An ending diagonal wave should leave the pair vulnerable to an abrupt and swift decline starting from not much if any above current levels

Eddied01 Updated 

We should see a correction down to the 92.7 area before it continues up. A break below 92.18 could lead to a new low but I only see it as a less probable alternative at this stage.

Eddied01

We likely have some form of a top in place at the existing high. If the high yielded the top an impulsive break of 0.9670 support would be evidence a decline has begun that could test the 0.9421 low. The break of 0.9670 is therefore key to telling us that a top has been formed. If instead price reverses higher, a recovery that breaches the 0.9836 high can't...

Eddied01

The current preferred interpretation anticipates a near term small corrective move , it will find resistance at 1.1778 . Breaking up could lead to the 1.182 to 1.185 area Breaking below 1.1615 could lead to another impulsive move down to the 1.15 area

Eddied01 Updated 

Looking for a reversal, It may have already begun With 1.2498 support left intact there is still room to put a top in between at least 1.2625 & 1.2655 As soon as the top is in there should be an impulsive move lower to beneath 1.2061. A decline below 1.2448 could be the first evidence that the top is in. This together with a break of the current upward trend...

Eddied01 Updated 

Natgas could be nearing the bottom of E as part of a symmetrical triangle. If that is the case we could see new highs being printed going into the US winter

Eddied01 Updated 

This view should remain intact above 1.16 A break below 1.158 should invalidate the potential upward move. Note the RSI bullish divergence

Eddied01 Updated 

a Bullish view should remain above 49.24 I think it is unlikely that it will break below 50 before the final push up.

Eddied01 Updated 

A bullish view should remain whilst 1.3329 holds. We could potentially see a new high before it takes the long road down

Eddied01 Updated 

There could still be a little bit of an upside towards 1.256 & possibly 126.25 before it heads back down This move up has been part of a corrective wave and it is possible that a new low is on its way as part of the 5 waves down from 1.37

Eddied01

Wave 4 have started and should reach the 127 area. It should be a great selling opportunity after the trend line has been broken. Post the breakdown focus on each retrace as a selling opportunity. When wave 4 has completed it could head back up as part of wave 5 to print new highs

Eddied01

Every retrace should become a good opportunity to short this pair. It is probable that this bearish scenario calls for a decline that reaches below 0.9421. A decline below 0.9642 would strengthen the idea a peak was established at 0.9770. Additional weakness below 0.9565 should be sufficient to signal a top was established at 0.9770.

Eddied01

It is always interesting to view the longer term moves and how the patterns repeats over the decades Looking at this the $ should strengthen significantly over the next 3 to 5 years