The wave 5 is incoming for the USDJPY. A hawkish fed plus a lagging BOJ is the perfect formulae for this to happen. This correction is great for a buy and we ride the wave 5 impulse to 120.
The final impulse move is incoming for the DXY, there will be pitfalls a long the way but once it breaks the 30 Jan 2022 top, it's clear skies ahead. We want to buy every dip before it breaks the top and start selling our positions at around 100.
The aussie dollar broke down this week after a fake out to the upside. We can expect to see more downside to come this week. You can either enter a short at these levels at market open next week or wait for a pullback to short it. The pullback should retest 0.715 and breakdown from there. Our full target will be 0.675 and the timeframe for this to happen within is...
I don't think the macro environment is crystal clear for the markets. While jobs reports turned out well, noone knows what the rate hikes will do the macros. If the fed screws it up and have to reverse their policies, expect a selloff to 20K, they turn on the printing press and we go to 200K. Otherwise, we can expect a slow grind to 100K from here.
The longs caught the shorts and now it's going for the longs. I expect a strong rejection at around 1.17 to test the bottom at 1.10. What happens after depends on what interest rates does to the macro environment, if it's going to stump growth, the fed will turn on the printing presses and we will see EURUSD rally again. Otherwise, expect a 1999-ish sell off.
Looks like there's more upside to come to test the top of the channel for the dollar cad, we will enter a long on pullback to 1.27 and exit at around 1.32. The expectation of rising fed interest rates will bring the price of oil down and cause a rally in the USDCAD.
This 155.214 level for the GBPJPY is extremely crucial? Will it hold for more sustained upside or will this range bound trading continue? I am slightly bullish to the upside for one last blow off top. But there are other pairs that have clearer direction. If you'd like to enter a trade, control your risk and expect price to turn against you. I'd personally long...
The dollar yen is trading in its wave 4 range, lurking in the dark to pounce onto the wave 5 impulse. I think the fed's decision on rates may surprise us in the coming weeks leading to a strong dollar rally and a sell off in risk on. Short term, the 113, 112 or even 111 are in play before this upside. We are expecting wave 5 to test 120. Trade safe!
We are still waiting for the wave 5 to come for the DXY, at this levels we want to wait for another dump to come before riding the price up to break the top and beyond. This dump should break 94 and even 93 before the upside comes. LFG!
The aussie dollar has started its descend this week. I'm expecting to see more downside to come. A short upward consolidation may play out to test 0.71 and we are targeting 0.675. The macro env is pretty much clear as the jobs reports turn out better than expected. The fed should be fully committed to curbing inflation, this will be short term bearish for the pair...
I think max pain for BTCUSD is at 20K. In the short to mid term, a relief rally could come and that is your opportunity to sell off and rebalance your portfolios. Hopium is not gonna do you any good. Make sure you have money on the sidelines to buy the dip. With this correction, the upside target for BTC has now changed to 200K and that should come in 2023.
More downside to come to risk on assets like the EURO as fed continues its hawkish tone. I expect markets to continue to dump until March and if inflation fears subside, we may see upside come for risk on. Sell every pump until 1.10 which should coincide with mid March interest rates hike. From there, market should have a relief rally and then we will wait and see.
The USDCAD will move upwards in the coming weeks in extremely choppy fashion, buy every drop until it reaches the top of the channel at around 1.32
Wait for a correction to the upside at around 156 and for the price to dump down to the 152 levels. Things are not looking good for risk-on in the short term.
A short correction down to 114.4 and then more upside to come for USDJPY. This wave will be impulsive and may break the top of the channel. We will start to take profit around that region at around 117.
The DXY is mid way for it's wave 5 impulse. We expect to see price break the last top formed in late November and go as high as 100 before we see some side ways trading. We are expecting the high to coincide with the interest rates hike to kick in mid March.
There is going to be more pain to come for AUDUSD and risk on assets across the board. Next week we will expect to see more hawkish tone from the FED and this will push markets lower. After that I expect to see some sideways indecision and the markets to start reversing to the upside in March after the fed starts to raise rates. We will set up to for a short at...
This looks like a reasonable support for an ascending channel and I wouldn't be surprised if price is manipulated to the downside on more time to give people the impression that it's all over. What the market makers choose to do now is largely dependant on whether there's more positions to liquidate either to the upside or the downside. For now it definitely looks...