As pictured on the chart, USOIL has been consolidation for a while, which could be seen as the 4th correction wave.
Overall I have a bullish bias and will be looking for a breakout of the range in order to see the 5th wave completion, right up to the next zone of resistance at around 60$.
BUT be careful! It is currently sitting at the top of that range which is...
EURGBP is currently in a good zone to look for bullish evidences.
I will be searching for entry signs on smaller time frame and look to trade the pair up to the next resistance zone at around 0.86850.
EURUSD has been in a corrective pattern since 2015 and is currently sitting at the very bottom of that pattern.
We could potentially expect a pullback to previous lows at around 1.085
Price action gave us a ping bar followed buy a bullish engulfing candle.
Looking at DXY strenght, we will need a bit stronger confirmations in order to long the pair to the green...
As the title says, I have a short Bias on GBPAUD considering the daily trend.
The pair as given us a good pullback since October and is currently sitting at the 50% Fibs retracement level.
Although this could be a potential good place to spot a reversal for trend continuation, I will be keeping an eye out for a move up to the 62% fibs level.
GBPUSD is giving us some different options.
I have a short bias on this pair on the long term considering the daily trend.
It have been giving us a strong pullback since the beginning of October.
The ideal level I was looking for trend continuation is around 1.29, but with DXY spiking, the trade might get triggered sooner then expected.
Keep an eye out.
DXY has shown some strenght since the elections.
This push up might have triggered the bearish trend continuation on AUDUSD.
Let's see if we can reach previous lows at 0.71500 and ultimately 0.68350.
Play it safe, trail you stop ideally.
DXY has been in a corrective pattern since march 2015, bouncing between 100 and 93.
It just got to 100 again, which means it would be a fairly logical thing to look for potential signs of reversal.
A breakthrough to the upside is also possible, play it smart and safe.
GBPJPY is getting to an interesting level, I would look for bearish trend continuation signals.
If we break the previous highs with no signals, trades will be invalidated and potential more upside will come.
It seems like GBPJPY is getting rejected once more at the bottom of the range, forming a bearish corrective triangle. We could see bulls push price up once more around 135.2 levels, which would give us our E point, in confluance with our 4th support.
If we break the triangle to the downside, the pattern is invalidated.
Let's see where this gets us. In such market...
Many expected to see a clear drop from a potential head and shoulder pattern. Unfortunately for us, we did not get any clear signals confirming the move.
I am looking for signals when price reaches the red zone.
If said zone is violated, price could potentially trade up to the next green zone, which would reach the trend line. We might see a bounce from...