It looks like the USDJPY could be coming to a point where we bounce of the wedge one last time and then break out in either direction. I am going to play the bounce down, and then wait for confirmed breakout and play it on monday.
USDJPY looking to finally have a decent pullback. I look for it to test support and break through heading down to make a nice size double top.
Whats even better is MACD just did a firm cross looking to head down back towards 0.
USDCAD looking for a nice long bounce in the upward channel. The reasons I am looking to focus on buyying on this quick dip:
1. Long and Firm upward channel. Just bounced off the bottom of the channel line. +2
2. MACD is downside below the 0.0 however it looks to be crossing now and will be heading up. +.5
3. Fractal was just made signaling a turn around of the...
GBPUSD looking for pullback as it touched the top of the current LONG trend channel. We are going to look for it to go down and either:
A. Bounce off button trend and make a possible movement further upward.
B. Blow through the bottom trend line and head further down.
Key notes: On a .618 retracement line which is a key line to watch
Pandora had a nice lower gap today where I had the chance to purchase near the button. I am looking to watch this thing ride back up today and hit R1 for a nice solid gain. I play pivots on daytrade so if I drop below the P of the day I will close my LONG position.
Looking to day trade the MSFT for a long position if it doesn't break through the key resistance position. If it does break through and shoots through r1 we are look for a nice take profit at around r2.
GBPUSD bouncing back and will test that middle support in the channel. If it bounces down we are possibly looking for a continued down trend. For now though it is looking to be a nice gain for the next few days via the channel bounce.
eurgbp looking like a nice long down trend. However I see a slight pullback that people can play if wanting some extra movement. However for the longer term I see the continued down movement until we break the Nice channel we have going on.
This looks like a good opportunity to short the USDCAD. I see a nice downfall towards support / Resistance lines and having the MACD support our decision is great. Looking for a nice gain in pips over then next few weeks.