It is very likely that EURJPY will follow EURUSD and get sold towards 130.00. There are at least 2 things obvious short term – trend line support got violated and if 133.50 does not hold as the support – we have H&S pattern targeting 130.00. Everything is in place so far. Close above 135.30 invalidates this setup.
The price retraced to 61.8 Fib and the whole idea to take long position is bullish flag breakout on 4H TF. I am showing daily chart so you can see that the target of this bullish flag is in daily major supply. The key level to take out in bullish case is 1.4355. 1H TF has clear inv. H&S in play. I would take close below the nech line 1.4163 as invalidation of the idea.
As long as the price trades above 1.5226 ( demand ) I will be looking for the targets on the chart ( Supply )
Minor demand at 7.30 hit, I will look for short entries towards 6.70. AS in DXY here too, we have rejection level which is 7.40 and 4H TF bearish channel.
Daily closed below the neckline and, as far as I`m concerned – we have valid pattern. It is to expect further downside here which is USD weakness and it is valid to be bearish in USD. This is the fifth bearish week in a row and if you look at 4H TF you can see clear decision not to trade above 94.00 so I have marked it as a rejection level. Also perfect bearish...
The price is still trading inside this wedge but it appears that the key level stays the same – 1.4370. This one is like Road Runner, makes tons of pips, 1H breakout is what I`m looking for to take. Cup & handle on 4H TF not confirmed yet.
Daily candlestick pattern is warning about retrace here so chose your entries carefully. I am after 1.6300 and 4H TF shows possibilities ABCD completed and it is to expect retrace to 38.20 or even 50 Fib where the lip line is.
As you can see, daily chart pattern is “evening star” in the supply. I took already piece of this and my target is previous supply / now demand at 1.04710 which is, also, 50% Fib retrace.
Daily Cup & handle published last week in play. Key support for further upside remains the lip line but I won’t be surprised if 187.30 serves as well. After all, it is previous resistance / now support and double bottom on 4H TF. Target remains 194.25.
More down to go here. Even good NFP numbers could not do anything significant to rise USD from something that is taking shape. Daily pattern formed on Friday is clearly showing resistance at 95.30, the price was kept at 95.00 and the key level to take out remains 93.40 for double head H&S to role in. My choice is to remain bearish on USD. If daily closes below...
My choice is to stay bullish here, I expect retrace to 61.8 Fib and move upside to 2.0800 again with possible breakout towards previous daily high at 2.1060.
The price was stopped at supply after hitting my target which beings further bearish bias. It will depend on USD and WTI. I expect another move to minor demand and moving down to the next one – 6.70.
The last time I was looking for the setup in any of CHF crosses was in January, before SNB decision. The setup from that period is still on my chart. The reason I looked for it today is great potential trade both ways. I do not favor any, I will take the one that works. The price is in the falling wedge on daily TF and on Friday it retraced 61.8 Fib of the...
It is obvious daily double top formation which is bearish but , of course, not confirmed and another one very bullish, cup & handle pattern , not conformed too. Having in mind expectations my choice is to stay bullish here. Confirmation of cup & handle will take the price to 1.63. Close below 1.5083 invalidates this setup and brings double top in play.
target 1 of ABCD hit, looking for target 2 , H&S pattern, 93.40