As you can see the stoch and rsi are both oversold but it currently isn't showing a bounce yet therefore I want the price to come out of this small consolidation and at that point i'll probably short. Also the stoch should give a clearer signal.
I'll probably take profit at the levels below when the indicators agree with a bounce.
I will take my loss when the...
Currently eurusd bounces of resistance with the rsi and stoch agreeing, I would exit this trade when price reaches the support and the rsi/stoch agree with a break. My sl is above the bounce
EURGBP went down the past couple of 2 days, breaking through the monthly and 4hourly support. The stoch indicate a downtrend so is the MACD. It will probably find support around the 0.875 zone.
Target: 0.87518
Stop loss: 0.89149
AUDJPY seems to be bounced off from the red trend line, I don’t think it will meet much resistance till the 89 level which is the 0.618 on the Fibonacci retracement from 2014-11-20 till 2016-06-24. The stochastic RSI indicates the start of a new trend going upwards, the RSI is in the middle.
TP: 89.009
SL: 87.015
GBP/USD made a huge move up breaking through the previous high and also breaking through the resistance on the daily chart. I think there might be a small pull back because of the oscillators, at the moment the oscillators are quite high so I’m looking to buy when those oscillators are a bit down.
Target: 1.40141
Stop loss: 1.34942
EUR/JPY is facing some resistance on the 4h chart (green trend line) if it bounces of from this trend line it will probably find support at the red trend line from the daily chart. If EUR/JPY breaks through this leven it will probably hit the strong resistance at 136.695. The Stochastic RSI looks promising for the bulls on the daily chart.
EUR/GBP bounced off from the 0.88632 level (23.6% fibonacci level on 4h chart). Probably heading to resistance at 0.89118 might bounce off from that zone or could continue moving up till the next sell off zone on the daily chart at 0.895 to 0.902. The stoch will probably head further to the overbought zone. We are probably in the 5th elliot wave going up.
Target:...
On the short term it might make a sligh pullback. Looking at the stochastic and RSI it is overbought, also a bearish crab is spotted on the 1 hour chart. in the long term however i think we are 3rd Elliott wave.
Target: 1.21 (50.0% level on weekly fibonacci)
Stop loss: 1.225
