Basically we reached the equal legs target with this last spike higher. Price action looks very bullish right now, so I don't expect to see a pullback immediately. However, I'm not looking to buy either and instead I'm looking for signs of weakness. Time will tell if this is the top or not. Watching.
This one is moving exactly as planned but most likely, it would wise to adjust positions on the 2nd half of the week as the US Preliminary GDP figure might be a game changer.
Generally I'm looking for a Daily close back below the 1.2150 area but if the price action looks bearish in my Area of interest, I may short it earlier. Depends on the price action. Watching this one very closely.
Very interesting situation here. As long as the Bull/Bear line holds, upside should be favored as the bigger picture trend is clearly up and the minimum target should be at least above the recent highs. However, if that target is reached then things might get a bit fishy as the whole structure seems rather corrective, which means that we may see another corrective...
Price still trades inside the same, small channel. Once again, weekly close is extremely important.
So far very nice reaction but we must wait until the end of the week to see if this move is for real or not.
Very well bid. My trendlines were a bit overshort between the 119.00 and 119.50 but eventually played out. Now the key remains in the FOMC. If it is positive for the USD then we should enter into a massive SL area and we could see a strong move to take the highs. Time will tell.
Aussie is back on the scene of the crime and is testing the upper line of the same triangle which caused the price to break higher towards 0.8150. If the price should fail to attract buyers from current levels then most likely we'll simply start to drift lower to take out the 0.7880 support/SL area.
Price rejected the former main trendline but, nevertheless, the price is still in the channel and as long as it stays there, the outlook remains bearish.
Very similar price action compared to the last week. Price is once again rejected from the main support zone. Another beautiful weekly candle forming.
Measured move of the triangle has been completed and price is showing signs of weakness. Waiting for a Daily close below 0.8060 area to go short.
Looking for a decent close (at least H4 close) back below the 1.130 level to test the waters with a short position, targeting a move back below recent lows.
So far the price follows my plan and trades inside the projected channel. Let's see how much lower it goes.
Very nice weekly candle here but I would not jump to the long side just like that. I would like to see a strong Daily close near the 0.9500 figure before anything.
120 level still seems to be the line in the sand and as expected, price takes its time to decide what to do next.
After breafly breaking the support trendlines, USDJPY is back in the middle range and pushing into a strong confluence area. Time will tell how it will react this time.
We've reached an important and interesting support zone. It is quite clear that the SNB does not like the current trend in USDCHF nor in EURCHF so it will be interesting to see what happens next. The good thing is that eventhough this is a weekly chart, the whole area is fairly small - around 250pips.
This small channel is holding very well so far and as long as we stay there, the direction is rather mixed. A clear break to the upside would be strong close and consolidation outside the main Pitchfork channel. Downside trigger is bit more complicated as the 38.2% line is very close to the channel itself, so more clues are needed on lower timeframes. All in all,...