The USD has been in a long term channel dating back to 1985 , with 3 Primary waves completed A - C.
The current primary wave started in 2008 , think GFC. Since then there seems to be 4 minor waves completed in early 2018 , within the progressing D wave.
The 5th minor wave has seen price consolidate over the last year between the 200MAV and the monthly Pivot...
Gold is Uber bullish.... and looks likely to continue to do so for some time into the foreseeable future.
Price has fairly well respected the 20 MAV.... I am awaiting a move back to touch this average as an entry point , with an aggressive stop below the recent long wicked spinning top candle inspired by the Trump Trade Tariff on China.....
The nearest upside...
The EURUSD has been in a downward trending channel since 2008. Waves A-D have completed , and the 5th wave E is in progress.
Wave E has been in a minor consolidation for the past 12 months, cycling between the .618 fib and resistance of the 200 MAV, and volatility is approaching the multiyear lows last seen in 1997.
Something has to give ....
It would seem...
Here is a look at the EURCAD with a consideration of a long term ABC pattern.
The first leg , the A wave , was an impulsive move from 1.75 to 1.21.
Then a consolidating wedge from 2012 to present - with 5 waves that may of completed in mid 2018.
The present wave down has reached trendline support and have broken and retested the 200 MAV.
Its watch and wait...
This pair has been in decline since Jan 2018 , and the bias has been to the downside with confirmed break and retest of the 200 MAV.
The 123 level was a short term consolidation and price is again quickly on the way down moving to the present 117 level.
The near term short target is the .618 fib retracement for the major impulsive waves of 2012-2014 , and is the...
EURNZD has made and inverse H&S between 2012 and 2017. Price looked to break this pattern in late 2018 , but failed at resistance of 1.79.
The pair have been on an impulsive move from 1.65 to 1.74 over the past 4 weeks.
It seems likely the 1.79 level will again be tested , and maybe late 2019 sees a breakout and retest of this key level.
IF so, I would...
EURGBP had made a strong impulsive move from July 2015 to March 2016 (Pole)
Since then the pair have been within a consolidating wedge ( flag) .
Corrective waves A - D have played out.
Possibly wave E may be in progress with price strongly rejecting the 92 -93 level, with price now sitting near the Monthly Pivot of 90.50.
A completion of the E wave would...
Since late June 2019 Bitcoin has been consolidating around the monthly Pivot Point ( 10750).
The buying and selling pressure exerted is seeing price move in smaller waves , and it appears a triangle pattern may emerge.
IF so, then the D wave may complete around 9500 , and looking for a 5th wave to move price back towards 11,500 (E wave).
Then price to break...
This is a view of USDJPY on a weekly basis, which appears to be in a descending triangle formation , which commenced in August 2016.
The 4th wave (D) may reach completion around the 104 handle. So price in next few weeks has further to go to the downside.
Momentum indicators are showing a bullish divergence .
From 104 , I am looking for price to show...
On the 4 hr intraday chart a bearish divergence is apparent between price and momentum.
Recent candles have tested the 3rd SD of volatility on either side of the Bollinger bands.
If 1536 manages to be the present swing high , and I am bullish on gold ...... a long is sought at
1. Entry - around 1453 , which would be a .618 fib retracement ( near support...
Bitcoin finds itself contained within a flag pattern.
Price has once again moved to the top of the flag, but shows indecision for further rise and is contained by the Monthly R1 Pivot....
Momentum is waning and the buyers may have reached their present limit , with the pair on the boundary of being overbought.
My bias is neutral going into next week = I want...
Gold has only one trade consideration presently and that is long.... It is too bullish for a countertrend trade ....
On a daily basis I would prefer to enter long at a retest of support -
Enter - between 20 and 50 MAV, below R1 monthly Pivot.
Target - very long to the monthly R4
Stop - below the 50 MAV , which price has completely respect with this...
This pair has been in a long term range between 1.02 and 1.12 , and so no surprise the 200W MAV is 1.07.
Price tested the high 1.02 handle last week , and was strongly rejected by the buyers ( aided by a surprise RBNZ cutting OCR by 50 basis points) .
With price placed to the high of a descending channel, considering an entry for a long.
Enter - Monthly Pivot...
I am bearish with the Aussie.... Last week on Wednesday a notable pinbar was formed. Further the weekly chart also concludes as a pinbar.
A retracement price is sought to continue with the downtrend.
Entry - between 50 MA and Monthly Pivot
Stop - above monthly R1 Pivot
Target - Monthly R2
RR = 3.....
I am bearish on the EURJPY - price is contained by all 4 moving averages to the downside.
The area of interest to enter a short trade is confluent with
1. The 50 MAV
2. Monthly Pivot Point
3. Require a failed retest of support now resistance
Stop - above the monthly R1 Pivot
1. 1.272 fib extension
2. Prior major support level
So gold has made a significant move recently..... It is very bullish and so the bias is to the long side.
A small consolidation is taking place.
For a scalp long
1. Entry at prior breakpoint 1490
2. Stop below the 50 period MAV
3. Target - 1540
RR = 4....
Maybe within 6 more bars.... Let see....