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USDMXN has been rising accordingly with the december hikes claimed by de FED
so far price has been consolidating below monthly levels as DXY reaches for new high.
We migt expect USDMXN go go into a deeper correcion towards DL (18.5530) before testing
again the ML (19.2110).
Watch out for an early breakout which might test 19.5530 before a full rally to 19.9880
We have seen a massive impulse within a EU uptreand.
Which i belive is going into a deep corection, but hasn't yet broken the
Assuming this is the case we are expecting som uptrend short term correction
before going down to test the great consolidation support zone from 2015 to 2017
or a greater correction all the way down to the lower 2017-2018...
CADJPY has been forming a textbook pullback all the way to 50%, it might go up to WL at 61.8% retracement before it goes down.
However, watch out pullback trendline and the pink support line. if it breaks it might be an early way out.
Checkout previous annalysis
USDMXN has been ina bearish rally down to 2016 price. Nevertheless MACD is showing divergence which was nearly enough to break te threndline and start a pullback correction right above the trendline. Regarding this friday news the price closed right on top of the trendline and on a daily level (DL).
Depending on DXY and todays news price might break down to touch...
DXY just closed this friday above monthly level where we are as well touching a bullish trendline subdivition. Friday news melted te price into this level, and expecting more price action from news today. Must be alert for 2 posibilities
1st - We could be looking at the reversal point for 2 options heading all the way up to upper trendline or to weekly level to...
ABC correction after A sharp 5th wave up. We might be expecting price to rally down all the way to the Monthly level MO or perhaps even all the way down to the lower weekly level WL.
Harmmonic pattern just formed in the 1H & 4H right before friday news pushed price up.
EURUSD has been in a massive bullish rally, but has it reached its last wave up? Fridays news spiked the price almost into the monthly level 1.19700
Reversals in price allegedly happen after sharp movements near round numbers. So:
1) 5th wave, check
2) 1.19700 round number, check
3) Important ressistance reached, check
4) Price within a monthly kind of trendline,...
Depending on your wave analisis and the current trend as well as support and resistance this price could be critical to buy or sell. Personally i think and hope price is up for sell all the way back to consolidation area. nontheless we could be facing at a new consolidation zone above the prior one. feedback?
Price is currently in a major resistace with a tiny divergece in MACD, no action for the past hours. however i would trade a buystop & buy limit, see what happens first.
Price might be trying to go back to a consolidation area between 1.2791 and 1.3166
this is the big picture
we might be expecting a strong pullback or a major correction back in consolidation area before price tries to go up against another major resistance.
My bets are on going back to consolidation for a while
As the price failed to break the current resistance in this huge consolidation area we might expect a little pullback and correction before a strong bearish impulse, perhaps strong enough to test consolidation support
We might be expecting a bearish flag or pullback before going into a strong 2016 & 2017 consolidation area, where we could expect a 3 wave correction or even a longer consolidation before it keeps going down.
Price is going into a triangle formed by a 7 year resistance and a 9 month support trend lines. It recently hit lowest price recorded since 2005 and did multiple tests within the past year to go back to a huge consolidation area.