I believe price will gravitate upwards, towards the buyside liquidity resting above the equal highs shown on the chart.
There should be further confluence on this idea, if the DXY continues to move lower.
AUDUSD has rejected the 0.69800 institutional level and has been playing around and testing 0.69500. It has approached the Daily 0.62 fibonacci retracement and I believe it will rollover to atleast the 0.67000 level. This has the potential to drop lower though but lets see.
After an insane rally the past 2 days, GJ is showing signs of rejection and holding the 133.800 level as resistance. It also confluences with a 0.79 4hr Fibonacci retracement.
I am anticipating this to fall below the equal lows made yesterday atleast.
As seen on the chart, there is no doubt we are in a clear uptrend.
Furthermore, after the gap fill, we have retraced and beautifully bounced off the 0.79 fibonacci retracement. After a rejection of 1.3500 last week, I personally do not think this will drop further. I am targeting the equal highs formed around 1.4200 and beyond.
For further confluence, the DXY is...
USDCAD has been consolidating for the past couple of days, but after a bullish movement yesterday, I believe this has the potential to climb further, atleast taking out yesterday's high and possibly beyond!
If you take a look at the Daily chart, there has been numerous attempts to breach the 0.94000 level, but all have failed and rejected this price. Furthermore, the dotted line delineates swing points, where we are currently in a retracement. My short zone lines up perfectly with key fibonacci retracements.
I predict this pair will be bearish from my zone, and...
If you missed the sell on GU earlier today, I believe there may be another opportunity to ride this down.
GU has rejected 1.2550, as well as broken and retested Previous Day's Low (maroon line on chart). There is also confluence with 0.705 Fibonacci retracement.
After a pullback on the Dollar Index , we saw a clear rejection of the $96.50 level.
We could see the DXY rise up to the $101.50 - $102.00 level, since from an algorithmic and institutional viewpoint, stop losses from the typical retail "Double Top" are placed above. These are prime targets for the banks.
The potential rise in DXY provides further confluence for...
After a sell-off seen today on GJ, I believe that another short opportunity may arise if we climb up to the range provided on the chart.
I believe price could retrace back to the 135.500-135.800 institutional levels, which lines up perfectLy with the 0.62-0.79 fibonacci retracement, as seen on the chart.
This could happen during the Asian session, and then...
At the end of last week, EURUSD showed promise and an indication that it wants to go lower.
After breaking a swing low, I believe it will retest the low it broke, which lines up perfectly with the 1.12800 institutional level, as well as a perfect third trendline touch and a 50.0 fibonacci retracement.
Where will it go?
Well from an algorithmic and institutional...
Following an aggressive sell-off last week, EURJPY has proved that it intends to go lower.
There are swing points that formed during Friday last week, as delineated by the dotted line.
I presume price will reach up to the 121.200 institutional level, which is also a 61.8 retracement, and gravitate lower to atleast Friday's close, and beyond...
CADCHF is trading within the range indicated by the dotted line, which delineates swing points on the Daily and Weekly timeframe. After an aggressive sell-off this week, it has retraced to the 0.69200 level and 0.705 weekly fibonacci retracement.
I think it may rise up next week to pick up liquidity, before coming back down to take out the sell stops resting...