AUDJPY looks to be a completed Elliott Impulse Wave during this trend of multiple higher highs & higher lows.
As of now, I'll be anticipating for a breach of the former higher low & a retest of the grey highlighted box before entering a short, targeting the .50 - .618 Fibonacci region.
NZDJPY looks to be in a quite healthy trend at the moment.
With the daily candles closing quite bullish, I believe we may still have a bit of an upside to see.
We may very well be in a current Elliot Wave with this wave being the corrective wave number 4.
A retracement to the .236 - .382 fib level would be nice to see & it could make for a nice R/R ratio,...
This pair currently seems to be retesting a significant daily/weekly resistance price level & has also formed a double top on this 4HR chart & a bigger DT on the Daily chart.
While price had been moving up, volume had been decreasing on this 4HR chart as well as on the 1HR chart, indicating bulls are probably running out steam now.
If you were to take a look at...
This pair looks like there may be a possible short opportunity incoming.
If you were to look at the daily chart, you can see that price had rejected the 112.000 price level 3 times.
Here on this 4HR chart, looks like we are currently in a ascending triangle along with what looks like a double top formed inside the triangle.
If price breaks down of the triangle, I...
Price once again is rejecting off the 0.90800 price area. A short here to 0.90400 - 0.90300 is an ideal price target.
Here on this 1HR chart, you can see that our indicators are also showing bearish divergences along with low volume while price had climbed up.
This pair looks to be losing steam on this 4HR chart as well as on the 1HR chart.
You can even see that there are bearish divergences showing on our indicators along with the MACD looking to cross over.
Lets watch for this 4HR candle to close first before taking any action. If price does not close above our resistance line of 147.800, I believe a short here to...
This pair looks like it may still be heading lower. At the moment, we'll watch for a retracement to the .50% - .618% region of the fib levels.
If price does not break above the .618 fib level, watch for a confirmation candle to short this pair to 0.67600 - 0.67500 price level.
This idea will be invalidated, should price push above the .618 fib level.
You can see that indicators are revealing bearish divergences as price approached the 1.85000 resistance level here on this 4HR chart.
If you were to also go down to the 1HR chart, you can see that there are also bearish divergences.
A retest of the resistance level of 1.85000 price area would make for a nice area to short this pair to between 1.83500 - 1.83200...
NZDCAD seems to be losing steam. On this 1HR chart, you can see that our oscillators are showing bearish divergences along with the MACD crossed over.
You can also see that volume is low as price was going up. And on the 4HR chart, price had been rejecting the 0.90800 price area.
You can also see on the 4HR chart that this price level is quite significant as...
This pair looks like a good short opportunity as this is currently a double top formation.
If price can't break up the 0.618 fib level, a short to 0.70800 - 0.70600 price area is an ideal profit target.
Also if you were to take a look at the 1HR chart, the stochastic is currently moving down from the overbought area and the MACD is currently looking to cross over.
GBPUSD looks like we may have a potential long opportunity. It seems what it looks like a completed EW 5 wave on this 4HR chart.
And with the 1HR chart, price is currently overbought. A retracement back to 1.28300 - 1.28500 price level looks like an ideal area to long this pair to 1.29900 - 1.30000
On this 4HR time frame, it seems our oscillators are showing bearish divergences as well as on the 1HR time frame. And on the Daily time frame, you can see a clear double top.
We'll keep an eye out on this pair when market opens and watch price action for more confirmations before shorting this pair.
Short targets will be 0.68560 for first target and second...
If you were to look at the weekly chart on this pair, you can see that price has formed a double top and couldn't push price higher to close above the resistance line.
On this daily chart, price had closed back below the resistance line and attempted to push back up just to get rejected and close back below our resistance line.
If you look at our stochastic and...
With the Daily close quite bullish and MACD crossing over. On this 4HR we may have another long opportunity back to 1.50500 - 1.50700 where our trend line is drawn.
If you were to draw the fib tool from the bottom of the bullish candle up to the high of the next printed candle (The bearish candle) Price had a 0.50% fib retracement to our resistance turned support...
Here on this 4HR chart, we are pretty much back at our support levels on this pair.
While price had been selling off, you can see that volume had also been decreasing. Indicating bears may be running out of steam.
If you look at the RSI, MACD & Stochastic and pair it with current price action, you can see that they are showing bullish hidden divergence as price is...
What we're seeing here on GBPUSD is probably a current Elliott 5 wave. We may be at the beginning of wave 4 at the moment.
I believe the completion of wave 4 is at the 0.382 fib retracement of wave 2 to 3. Which is the Grey highlighted box (Around 1.30100 price level)
Seeing as wave 4 should never retrace back to wave 1 price territory, a stop just above the...
Possible NZDCAD short opportunity may be incoming.
On the weekly chart, price had a really nice rejection off the 0.90800 price level.
And on the daily, price had also been rejecting 0.90800 price level multiple times before price decided to sell off.
On the 1HR time frame, price seemed to have found support & is currently oversold on both the Stochostic & RSI...
This price area is a very significant price area where it had been holding as support or resistance if you were to look back on the weekly chart.
Currently this pair is in a rising wedge. On this 4HR chart, we have reached the daily descending channel's resistance trend line.
Also on this 4HR time frame, price had been rejected multiple times off this price level...