Well, we have got some Head and shoulders pattern on gbpusd.. The patter is best visible on 8H TF but is not avaiable here.
I am going to try with SL at 1.55296 and Tp at 1.44452. It a bit risky....
more info: crocotrading.blogspot.it
Very messy situation on NZDUSD, the pair is falling hard for a long time and there is "swap problem"
Shorting NZDUSD right now is not a suitable option.
Simply, the high swap costs will kill every strategy.
At the same time is not safe to buy.
The best thing to do is to stay away for this pair...
Very far away.
We could touch the low of the channel at...
The current situation on EURAUD makes me believe that will see a correction sooner or later.
This is a very nasty pair, the volatily is insane, it must be traded with extreme caution.
We have got a massive channel overshoot in progress.
We could go as low as 1.4200.
More Info: crocotrading.blogspot.it
The situation on USDCAD still looks bullish.
But it do not have a setup chart to enter at the moment.
We need to wait patiently for an opening.
I am thinking that they are trying to create a "bear trap" at the low of the range, if that the case
we need to wait for the "trap".
The technical situation on GBPUSD is very similar to EURUSD.
The problem is the GBPUSD is a very volatile pair, so here the PA is very messy.
But, for what I can see we can go lower.
After the good NFP, EURUSD consolidated in the descending channel.
There is a very nice descending channel, that is correctly respected.
The current price action make me believe that the downtrend is still in place, and we could attach the low of the range, and next touch the bottom of the channel.