NZDJPY is Defintely Overextended, both medium and short t-erm.
5 waves completed both on the larger picture and the sub waves.
Head & Shoulders:
Sell on the break, which already occured.
1H: Candlesticks are also suggesting a reversal.
EURUSD is ready to move up.
The consolidation period is nearly over.
Multiple trendlines have been broken.
The First move up was greeted by a long consolidation period.
We seem to breaking out the consolidation.
View supported by Dollar index and other US pairs
Higher timeframes need pullback.
Confirmations in place.
The Dollar Index is Finally seeing some bearish momentum.
This view is supported Both technically and fundamental.
On the larger picture (Daily) we need to see a pullback.
Breaking out the channel.
Trade truce with China = Full Risk on Market -> weaker us dollar
I will not sell right away, the risk reward does not make...
USDCHF from the Previous Idea is giving us a NICE setup for a HUGE risk reward payout.
ENTER AT 1H CANDLE CLOSE.
Target at 100% RR: 11 !!
-- 4H Head & Shoulders --- Decent shoulder on either side.
-- Price Bottoming at a Daily Support Zone.
-- There was the 1st move up and we are now in the correction.
-- At 61.8% retrace
-- Wedge like pattern
-- Daily and Weekly Supports Retrace Higher
INVALIDATION: Is the LOW
1) ENTER NOW at 61.8% retrace, SL AT...
Sell the breakout of this triangular structure.
SL at the red line.
TP1 Lime line.
TP2 Green line.
Market needs a pullback lower and is giving a nice short-term selling opportunity.
NZDUSD Correction unlikely over.
Failure by trendline.
The up move seems similiar to the previous up move.
Selling is a good idea.
Caution near the 61.8% retrace if price stalls.
Breaking the low is likely.