EURJPY is in an Elliot corrective wave. I initially shorted from 116.197. Instead of shorting, I recommend you wait for the downtrend to bottom out and take a long to wave B. I always welcome comments and criticisms, thanks.
AUDUSD has broken the resistance level on the 1 hour chart and currently retesting this zone. We can also see that it is at the bottom of an uptrend on the 1hr chart. I'll aim for a 40+ pip gain. Comments and criticisms are highly welcome. Thanks guys.
From the chart, we can clearly see that GBPNZD has hit the 50% Fibonacci level. We'll expect a possible rebound to the uptrend. Also, since weekend activities didn't manage to push the price lower than the 50% level, we can say that it is a safe zone for potential buyers in the market.
Using support and resistance, EURCHF seems to have reached its lowest support which has held since 2011. It held again in 2016, and 2017. Using the 30 minutes time-frame, price is forming a flag on the top of the bottom. This signifies a reversal of the current downtrend which seems to have been in progress since early February.
However, there are other...
EURCAD has hit support @1.4540 on the 4hr timeframe. We expect this pair to go long. If it breaks support, we'd expect a retest. Next support is at 1.4460. Wish you all a happy trading year.
USDJPY has broken its weekly support and we can expect a decline in price. Thus, we can hope for a good opportunity to short. Price is currently retesting the broken support, and if we're lucky, this support might become the new resistance level. However, there will be a USD news release by 16:00 GMT, so traders are advised to watch out for that time. For...
