USDJPY BROKE MANY KEY TECHNICALS THROUGH LONDON TRADING LAST NITE. THE BOE LEFT RATES UNCHANGED AT .50% WHILE KEEPING ITS ASSET PURCHASES STEADY AS EXPECTED. USDJPY BROKE A BEARISH HEAD AND SHOLDERS THROUGH LONDON TRADING AND ALSO BROKE THROUGH THE PARALLEL TREND LINE. ALL THAT BEING SAID UNEMPLOYMENT DATA IS DUE TODAY AT 8:30, THE MAIN QUESTION AT HAND HERE AS...
USDJPY SHOWING SOME VERY BULLISH SET-UPS PRIOR TO NY TRADING. IT HAS SHOWN RESISTANCE OFF THE PARALLEL TREND CHANNEL FROM PREVIOUS SWING HIGH PRICE OF 110.00. USDJPY ALSO BROKE A WEDGE PRICE PATTERN ,FORMED A MORNING STAR REVERSAL CANDLESTICK PATTERN AND CONFIRMED A DIVERGENCE TRADE SET-UP ON THE 12-26 MACD. THIS IS CERTAINLY VERY BULLISH YET I AM CURRENTLY...
AUDUSD SHOWING A LITTLE WEAKNESS HEADING INTO THE NY TRADING SESSION. AUDUSD RALLIED THROUGHOUT THE UK SESSION HITTING PREVIOUS TREND LINE SUPPORT AROUND THE KEY TECHNICAL LEVEL OF .8800 FROM THERE IT FORMED A BEARISH EVENING STAR REVERSAL. WITH TODAYS FOMC MINUETS AT 2:00EST WITH DOVISH EXPECTATIONS DUE TO LABOR MARKET SLACK AND LACKLUSTER INFLATION EXPECTATIONS...
THE POUND HAS SHOWN RESILIENCE IN THE PAST FEW TRADING DAYS BLOWING THROUGH PREVIOUS SWING LOW RESISTANCE IE(R1) AND FORMING A 5 WAVE IMPULSE UNDER THE ELLIOTT WAVE THEORY. GIVEN THE BEARISH OUTLOOK FOR THE USD/JPY IT WOULD NOT SURPRISE ME TO SEE A LARGE SQUEEZE PLAY HERE.
AFTER FALLING OVERNIGHT AFTER THE RBA RATE DECISION BREAKING A HEAD AND SHOULDERS TOP USD/JPY HAS FORMED A HEAD AND SHOULDERS BOTTOM AND APPEARS READY TO RALLY.
USDJPY SHOWED VERY BEARISH PRICE ACTION YESTERDAY WITH THE DOLLAR LOSING VALUE AGAINST ALOT OF MAJOR CURRENCY PAIRS. USDJPY IS AT PREVIOUS SWING LOW SUPPORT TRACING OUT A 5 WAVE IMPULSE MOVEMENT LETS WAIT AND SEE IF THERE IS RESISTANCE AT THE RIGHT SHOULDER TARGET WHICH IS A .50 RETRACEMENT OF WAVE 1.
IN THE LAST HOUR OF THE SESSION APPLE SHOWED STRONG PRICE ACTION BREAKING A DESCENDING WEDGE,CONFIRMING AN RSI DIVERGENCE TRADE-SET UP, AND CONFIRMING .618 AND SWING LOW SUPPORT. LOOKING FOR A STRONG RALLY INTO TOMORROWS OPEN.
KIWI SHOWING SOME BULLISH PRICE STRUCTURE HEADING INTO NEW YORK SESSION. PRICE HAS CONSTRICTED FORMING A SYMMETRICAL TRIANGLE LOOKING FOR A TEST OF LOWER TREND LINE THEN A LARGE MOVE TO THE UPSIDE
5-3-5 ZIGZAG WAVE C .618 FIB EXTENSION OF WAVE A WAVE B COMPLETED A ASCENDING TRIANGLE WAVE 2 WITHIN A 5 WAVE IMPULSE CANNOT BE A TRIANGLE FURTHER STRENGTHENING OUR CONVICTION OF A CORRECTIVE WAVE PATTERN.
AUDUSD BROKE LOWER CONVERGING TREND LINE. COMPLETED A 5 WAVE IMPULSE MOVEMENT WHICH WAS A 1.618 FIB EXTENSION OF WAVE 1 OR A.