COT reports for YEN has indicated a shift in momentum for the YEN providing us insight on the now bull uptrend for the USDJPY pair.
Wait for price to close below Block Order Level for bear confirmation.
NZDUSD price touched sweet spot on fib of 70.5 indicating a strong bull run although USD showing more strength than NZD. Watch for a break out either way.
USDJJPY has hit a critical resistance level. We may see a retracement from the 104.150 quarter point ending the Wave 3 impulsive drive; however, using MACD and trend analysis, USDJPY has a lot of bullish momentum left to go. Enter retracement once price has crossed the red median line in Andrew's Pitchfork.
Price may bounce off trendline and start the bull momentum we've been waiting for.
EURGBP seems to respect quarter points most of the time. We may be in a truncated 5th wave.
Eurgbp is faling to break about .87000.
Conditions : 1.) Price is consolidating indicating a reversal. 2.) RSI is revealing bullish divergence. 2.) Wait for a break over the trend line. 3.) TP 1 @ 1.29
GBPCHF GBPAUD GBPUSD AND GBPJPY. Constructing the equity millipede.
Price is consolidating which could indicate a weekly trend reversal.
The markets still have time to conclude a price rejection. Most of the volume will likely take place during NY. Hidden bearish divergence is evident but not very strong.
RSI is revealing weakening of buyers.
Wait for trendline to break. RSI is indicating weakening selling power.
Going into Wave C for NZDUSD. Retracement may test .382 fib level before continuing the trend.
Channel and trend line technical study. Set the trend lines within the channel and catch the waves as the market breaks them.