Fundamentally, it seems that the GBP 's Brexit optimism is beginning to fade as GBP has reached overbought levels, along with that we've reached a very significant technical level. We've hit the 2.00 price level which is a very significant psychological round number paired with multiple Fibonacci confluences to confirm the significance of this price level. For NZD...
As we know, AUD has been performing quite well these past several days, although this is true, AUDJPY may be reaching a resistance point which will determine whether or not AUDJPY will reverse this upcoming week.
At this level identified, we have multiple Fibonacci confluences (Major 78.6, 38.2 retracements & 161.8 extension) along with a potential Elliott Wave...
Currently AUD have been performing very well with the good news with China which by extension affects AUD due to their trade partnership. However, I've identified a bearish opportunity which I believe should be significant for the coming days. Enjoy!
USDJPY looking like an interesting opportunity for sells as we have multiple confluences lining up in one area, either you like to be aggressive or conservative, either way this setup has potential to the downside. Enjoy.
We have two possible scenarios, either price will move down from here as we have completed a ABC Elliott Wave correction pattern and we're able to have an aggressive entry for this trade or if price continues to push higher then I expect price to react bearish off third touch of the trend line which would be a more realistic conservative setup.
We've completed a Minor Wave 2 along with multiple Fib confluences to confirm the significance of this price zone along with a confirmed trend line that is currently supporting price. If there is a break below the recent low/trend line, then I will consider this Elliott Wave count invalid.
Currently CADJPY has been on a good run to the upside and we have reason to believe that this run is coming to an end, we approaching a Fib zone of a Minor Wave 2 completion, therefore we should expect price to trend violently to the downside.
I hope you are able to profit from this high probability setup.
Currently CADJPY has been on a good run to the upside and we have reason to believe that this run is coming to an end, we approaching a Fib zone of a Minor Wave 2 completion, therefore we should expect price to trend violently to the downside.
I hope you are able to profit from this high probability setup.
