If this pair pushes past 0.73763, we would have convergence with the breakout of the major daily trendline and the ascending triangle structure. Otherwise, it will still be in no-man's microtrend land.
USDCHF has broken the high (however not even close to the all-time high) it was at before the Franc was unpegged from the Euro. I suspect the level it was at will be retested before heading higher. I may scalp down to that level before taking a long position. Of course this is a big week for news, so it's anybody's guess, really.
I will act on the breakout of this symmetrical triangle. If it breaks out to the upside, I will wait for a retest of the downward trendline then go long. If it breaks out to the downside, I'll wait for consolidation (and if the consolidation lasts a particularly long time, I may switch to a long position) to finish and go short.
While the 2nd wave is a bit long, I could see EU moving somewhat in this way up to the strong 1.07800 trendline where there will possibly be a correction wave. I would definitely open a short position around 1.07800
AUDUSD is responding well to a textbook double top from earlier this month. The bullish inclination is supported by its having broken a very strong trendline. A bit early to be sure, but feels like a bull.
I expect that when we open on Sunday, the AUDUSD will consolidate as some will want to push it up to the downward trendline; if there is confirmation that it will continue lower, I will open a short position around 0.71100 and catch some of the downward movement. My inclination is bearish, however if it goes up and breaks the 0.71500 downward trendline, I will...