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USDCAD is likely to experience more selling pressure.
This premise is based on trendline breakout and a move lower to channel support is anticipated.
Pound Yen is currently trading in a channel moving upwards.
This channel appears to be on the verge of a break out so watch for downward momentum when it does.
P.A has broken TL resistance.
Prices could move as high as 1.618 projection of the broken leg to 1.0683
AUDUSD has broken trend line resistance.
Further bullishness may be expected to the upper trend line.
USDCAD has been very volatile today and has retested previous highs.
A sell set up is under formation soon after the break out of trend line support.
A possible channel is under establishment in AUDUSD.
The pair has retraced to 38.2 % retracement of the long leg.
However if the lower tentative trendline is broken, the pair could move downwards.
Further upward move may appear
USDJPY Broke major trend line support and is now back to re test.
Further bearish move is possible.
Price has broken and closed above the trendline resistance on the hourly chart.
This is my bullish confirmation
USDCAD broke a minor trendline support and is currently trading lower.
A break below the trendline will drive the pair down to 1.3100 zone.
EURUSD has ideally completed a bullish butterfly harmonic pattern near a support zone.
An upside movement may result from this pattern.
USDCAD has been trading in a descending channel.
Channel resistance has been broken and movement upwards to the 0.382 retracement of the channel cannot be over ruled.
Channels have measurement implications and prices may move as high as the channel width.
Its good to buy.
USDJPY was very bearish this week and broke trend line support of the rising channel.
PA has now retraced to re-test the the trend line support and has further initiated a downward momentum.
I am looking for a sharp decline to 116.00 level. Lots of pips too be bagged here if it turns out right.
AUDUSD recent;y reacted to a gartley pattern and retraced to 0.382 of the CD leg (Gartley).
Currently the pair is on its way to forming a butterfly bullish which converges with the 0.618 retracement of CD leg from the gartley.
A small bullish bat pattern is also forming completes right at trend line support.
I prefer to sell.
USDCAD has made its way to trend line support as earlier indicated in my post.
A bounce upwards from the support has been initiated.
A break above the descending channel will confirm the buy
Its good to buy at channel break upwards
USDCAD is in a downward correction mode.
The pair has reached the 0.382 retracement of the CD leg. (partial profits booked)
More downward movement is expected a point of confluence between:
- 0.5 Fib retracement.
- Major support structure
GBPJPY is currently trading towards the lower side of the channel.
Price action is on the way to form a bearish bat pattern.
It is good to buy at dips.
USDJPY has made it to the bottom of the descending channel.
I expect a rise to the upper part of the channel for more cues on where the pair is headed.
Its good to buy.
As indicated in my previous post, AUDUSD is reacting to a bearish gartley pattern.
As a short confirmation, trend line support has been broken confirming further bearishness.
Its good to see at trend line support break or re-test.