This recent move up seems corrective and I am awaiting a break of CTL to target price moving lower
Look for AUDUSD to trade higher
watch for the break of the TL for price to move lower towards the beginning of the WXY correction
If we receive a break of TL impulsively look for a correction to get long to re-test high.
I would like to see a Bullish wave to complete this Bearish harmonic pattern
- USD/JPY is another pair on my watch list. I been anticipating a lot of Dollar weakness for sometime now since the beginning of March. I have UJ to continue lower, there is some nice support at 111.640 that I would want to see broken before I get short. I would also get short if I can get some cheap sells around resistance at 115.000 price point. Price is showing...
- EUR/NZD is another pair that I believe is going to be a great pair to trade this week. I am looking at the 4 hour chart, there is a double top formation with a lower high around the 61.8% Fibonacci level. A break of the trend line I have drawn will be good confluence to enter. I will also be looking to see if there is any re-tracement to get some cheap sells....
-GBP/CAD, This pair was in consolidation for 12 days and we finally had a break of consolidation on Friday March 17 and broke resistance. We have a bullish flag on the daily chart that we broke out of and retested support before breaking out of resistance. I see this pair rising at least into the 1.70000 area.
Several good technical confluences and offer a great Risk/Reward
I am expecting a Bearish impulsive wave to the downside
I hope everyone have a great weekend and ready for a good trading week. I just wrapped up my weekly analysis and I found a lot of good trading opportunities. I am very confident that Dollar will start to go very bearish to at least touch the 92.00 area and we will have a very bullish rally in Gold to at least touch the 114.60 area in the near future. I have a lot...
We have a impulsive wave E of a triangle in Elliot Wave analysis. We also have a rejection from 38,2 Fibona.ci level
We have a bullish bat completed with a rejection of a bigger 61.8% Fib level. I see price rising to the .87000 level easily
We have a bullish morning star at the 61.8 retracement
We are experiencing an impulsive wave up with a completed gartley in the area
we have a Head and Shoulders pattern, We have Bearish Divergence and we also have a shooting star that formed the right Shoulder