We might have start of big sell off as current wave up broken previous swing top and recent price behaviour showscontinuation to downside. Take any smaller sell set ups after any corrections / pullback on lower timeframe and keep it as long as you can moving stops to break even once in profit. Be aware price still can climb to about 0.77900 level before big reversal.
Current structure indicates we have head and shoulders pattern in development and it would be agood idea to sell after breakout of neckline to taget as marked on chart.
Possible we have a running contracting triangle pattern in development. Watch for a bounce or breakout of upper trendline. So far sub waves confirm this possibility however we need two more waves to develope and confirm this pattern.
Price has reached key level. Watch for breakout or bounce of upper line as either way we will have an excellent opportunity for sell or buy . Looks like we have bigger correction in development type of flat ABC. Pattern in making I consider as continuation on of uptrend despite we might have another move down. Possible it can be also trangle pattern in...
We have a inverted head and shoulders in development on weekly timeframe which indicates this year yen will we weak against precious metals and possible major curriencies. Drop down timeframe to look for buy setups and try to keep trades for longer time period.
Pay attention as current price action may lead to head and shoulders pattern development. Be aware it might be also beginning of bigger sell off.
We have a breakout of trend line and shooting star candle as potentially sign of big reversal and begining of bigger corection Any pullback on lower timeframes should be used as entry points as there is high posibility for breaking daily trendline as well .
Watch for breakout of lower trendline for sell entry. MACD shows clear divergance on 1hr / 4hr timeframe. Cross market analysis shows we might have sell of accross the world in main indicies like NIFTY, DAX, SP500, JP225, ITALY 40. Good luck !
We have bearish gartley pattern in development on hourly timeframe so you can look for sell setups when price reach 1.08000 level.
The daily bearish trend line has been broken and we are currently in medium term bullish trend. Pound shows weakness across most of major which should have an impact on main british index. You can take entry based on breakout of developing flag. Good lucl !
This is my my favourite long term view. Next big corrective wave on higher degree structure should be sharp.
Watch for breakout of ascending channel for sell entry. This might be a really big sell off in medium term so worth to watch and get in when start to move.
We have a butterfly pattern in development a would be a good idea to sell based on this setup. First target would be at doted trendline and if breaks much lower as we also have expanding traingle / megaphone in development and price might retest lower line of bigger pattern.
MACD shows signs of divergance. DXY index is aproaching key level and we might have reversal at least in short term. Watch for breakout of ascending channel for sell entry and possible even for much bigger target than marked.
Looks like abc correction is over and you can expect another wave down to target as marked on chart.
This is my new weekly forecast for this pair. Current price action shows more evidence tha we are having leading diagonal structure in development on weekly timeframe. Croos market analysis indicates similar structure in USDCHF. Possibe we might have begging of new trend. I will try to keep posting updates.