EURJPY has been steadily climbing since our last analysis where it broke out as expected. However, we believe price is nearing a reversal point and must come back down and retest the current trendline, possibly creating another higher-low. We expect price to reverse around the next resistance level. Look for confirmation from a break of trend line, the RSI and MACD.
EURNZD has just broken up from its ascending triangle pattern. We expect price to climb towards the next resistance level upon successful retest.
EURGBP is attempting to breakout from its current flag pattern We expect price to head north and test the next resistance level.
We have a potential bounce setup on Silver with price nearing the bottom of its current trendline and hitting the 200 MA. We expect price to head towards the top of the channel.
XAUXAG is currently forming a descending triangle and we expect price to break out lower towards the main trendline in play.
AUDNZD is looking to break below its current flag pattern towards the next support level. Entry on break of channel.
EURJPY has broken its major flag pattern and we expect this small retrace now to bounce back off the channel and aim for the next resistance level. Looking for a reversal pattern/higher low
USDCAD looking to breakout lower right now Follow the trend
EURAUD has just broken above its flag channel. Enter long targeting next resistance level
XAGUSD is looking to complete its 5th leg of a possible Elliot impulse wave structure. We expect price to continue heading north towards leg #5 before it may turn and create an impulse to breakout below the whole structure. Follow the trend until breakout.
Gold is still ranging in a predictable pattern looking to continue on it's 4th leg in a flag pattern. There is also a second flag pattern (yellow) within this major flag pattern which we believe may break as price tries to continue its 4th leg. If the yellow channel breaks price should retest the bottom of the major flag pattern If it does not break, we expect a...
CHRJPY looks to be breaking out towards the top of its main flag pattern channel on the Daily. Long entry with tight stops below key trendlines.
EURJPY has just broken out of its flag pattern so we may be seeing a huge long opportunity. Enter long with SL below trendline
DXY may be heading to the bottom of the flag pattern now after a bearish breakout of its current trend. From there price will either completely break through the flag pattern or begin its next leg. Possible short-term sell opportunity currently.
EURUSD has broken back into it's former channel and we expect it to continue heading north and eventually break out of a bullish flag pattern.
AUDUSD is looking to complete an M formation currently on it's final leg. If we M formation plays out, we expect a drop towards the orange line. A break of the yellow trendline would act as confirmation for a continuation lower, however now is a nice entry with SL just above the high that was formed. This may also be a 3-wave structure forming.
USDCAD is nearing the top of a flag pattern where we expect it to meet resistance before making it's way back down. Traders should be on the lookout for: 1. A break below the current yellow trendline or 2. a bounce off the top of the flag pattern lower. For short entry points. *A breakout above the flag pattern would make this short setup invalid.
GBPAUD has broken lower and is still in bearish territory. However, we see a potential setup for a long provided there's a breakout of the trendline. GBPAUD is short until breakout , where we will reassess and look for entry into the long.