Forming a nice double top for possible reversal. However, upon opening of London, I'm going to watch price action.
If a big bullish candle blows through 1.095, I'll look to enter long.
If it gives a solid signal to short, I'll take it down to the trend line or 50 -61.9 fibs level, break below the trend line and it will look to the next major support.
AUDNZD is approaching structure and ending its corrective structure to continue back on the overall downward trend. You can be aggressive and short now or more patient and trade the break of the corrective uptrend.
NZD has been strong as of late with sentiment changing toward NZD raising rates and a weaker Aussie, I look for NZD to appreciate and AUDNZD continue...
I'm Bullish Bias on this pair. It broke a major downtrend a while back and has a rising wedge plus the falling of oil prices, I'm looking for long opportunities around the up trendlines. As it is around key resistance levels, I'm waiting for a pull back for entering long.
AUDJPY has been in a major down trend lately. I'm going to be bullish bias to the 1.83 level. If we can get a break of the down trendline, look for a strong leg up. Based on price action I will short at the 1.83 level or play the break of the uptrend to the downside.
I'm neutral on this pair. It could go either way because of the French Election and the sentiment it will create on the Euro.
Bullish Bias - It broke the major downtrend and pulling back and getting rejected on the down trendline. Aussie has been weak maybe time to buy it back. as of late and sitting on a major psychological level.
Bearish Bias - Potentially a...
GBPCAD broke some major resistance levels as week and with declining oil prices, I am bias bullish.
I'm expecting for a ranging trading for a bit then either a strong retest of the next resistance zone or a pull back then retest again. I'm paying close attention to key psychological levels this week.
GBPAUD is an uptrend but rejected the major resistance line. I'm expecting a pullback the longer up trendline which will be around the 50-61.8 fibs zone and then a possible retest of the resistance line. If it fails to break, look for the pound to drop. If it breaks it should yield a strong up.
Be careful trading into the resistance zone.
EURJPY Short is a little risky due to the French election and the correlation to how the yen pairs move. I had a correction but broke the correction trendline and reversed at the major down trend. I'm expecting a retest of of the major down trendline because of the correlation of the yen pairs then a drop due to the french election.
If it close above the major...
EURGBP broke a major up trendline. I'm watching for a rest of the .84 - .84250 zone then a drop. It's risky because of the french election this weekend. Depending on how the election pans out, this pair could spike in either direction dramatically. I'm bearish bias due to election sentiment and strength of the pound right now.
I'm looking for a retracement back to the 50% Fibs Level which put it a structure and key psychological level and watching for price action to take a long.
Watch for the key level of 1.27500s because it seems to be bouncing there.
GBPJPY broke the major down trendline and broke key psychological levels. I believe it will trade in range for a while.
I'm looking for a strong close past the 1.40 level to have a nice impulse leg to the upside to the 142s.
USDJPY forming a triangle and I am bias to the upside. We are in the 50% to 61.8% Retracement Zone on the daily chart. Price is also near a major psychological level at 109. i would expect a push up to the next major resistance structure near 110 a pullback to a 109.50 then a strong push up to high 111s. The key is to have a close above the 109.50. Additionally,...
Sitting on major structure and a up trend line with it struggling to break on 4hr chart. RSI is oversold . Look to long. If it breaks below, look for a big drop. Be Careful.
