GBP/AUD is retracing to the 61.80% fib retracement level and trendline which also lines up with previous support now resistance, I will be looking at bearish candlesticks around this level of 1.90100 to take this short down to 1.85500
GBP/JPY has failed to break the 145.000 Monthly Level. On the 4hr chart bearish candle formation has occurred as well as bounce off the trend line and on the 1hr chart the EMA's have crossed over. This is a confirmation of a short all the way down to 142.500 Weekly Level.
USD/CAD is a short to 1.3300 as it has stalled around the Resistance 1 and is forming a bearish candle. The stochastic is also reached the 90% level which indicated a drop.
Looking at a potential 110 pip.
If the 4hr candlestick closes as a bullish engulfing above the 50 EMA & above the previous resistance it will have broken the inner trend line. I am long on this position to 1.2900
Note: Fundamentals make cause the price to reverse, this a technical based analysis.
USD/JPY bull trend by keeping the market above the 112.50.
USD/JPY is trading above all simple moving averages (SMA) which confirming the bullish trend. The market is also trading above the bull trendline, if bull run remains above 112.50 the next objective is 113.18, July high. However failure to break above the July high (113.18) this can lead to a reversal...
