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
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 ...
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.