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GBPJPY - 162.XX likely the lvl coming into play.The surge or break out of the channel top ( completely obviated ) and the surge up has been rather angry.. Still feel move up is left possibly as close as to 113 handle ( 112.8X likely resis zone for now )... Yes; I was viewing it to the lower side but definitely not against the break and not while GBPJPY taken out 156.70-8X point I wanted it to hold as well. As said, the break on the USDJPY was an angrier one and the result was more or less expected as there was no retrace into this surge at all. I will update on the USDJPY on org ideal plan.. Anyways here is something on the GBPJPY now.. GBPJPY - A simple layout - Around 162 we should start seeing some decent resis - GBP likely missing one leg higher to around 4500 handle extended to 4550-60 ( overall bigger lvl to watch is 1.4700 handle. i.imgur.com GBPJPY 8 hr- simple st forward chart...
Short
by TahirKhan
6
GBPAUD - Likely to turn Bullish soon.. GBPAUD - mid 83XX likely to find support for some meaningful bounce.. Various time frames and especially angle on daily that if gets to play out could blossom into a pretty decent trade setups. As for now; newer lows extending ideally 836X and a hold comes in tempted for long side on the pair. i.imgur.com GBPAUD Daily - Lift off can find some decent room to run to the higher side. A break out of the channel to the higher side should spur bullish rally.. i.imgur.com GBPAUD 8 - Newer minor lows looks buyable for some going up north.. There's still some room as per the daily to the downside; so newer lows tempted to long on it.. i.imgur.com GBPAUD 4 hr GBPAUD 836X looks decent. AS per daily the range to be is 8340-6X for long side..
Long
by TahirKhan
EURUSD - Going into the ECB Rate & Monetary Policy ... i.imgur.com EURUSD 8 hr - Depending on the news event 142X-3X likely bonafide resis. Hence incase we are to see a 2 way move on the pair with initial been fake or getting reversed out; 142X-3X needs to hold and get a drop going to get a break under 127X.. This opens up the room for a further drop down to 117X-8X in coming sessions. Alternatively if we hold to 127X and gets going a break above 142X-3X calls in for a push into the 1500 handle with 1555-7X move highly likely then. Key points 127X-8X to the lower side and 142X-3X on the higher..
by TahirKhan
GBPJPY... Can be dragged lower before meatier upswing....www.linkedin.com i.imgur.com i.imgur.com GBPJPY Weekly - Current i.imgur.com GBPJPY 2 hr - Possible Bear Flag - There's still a run for a minor new low; though a 148 strike & a bounce just might be the swing to take the pair higher into and above 160 handle... i.imgur.com GBPJPY 30 mins - Diamond formation and a break to show next move .. i.imgur.com GBPJPY 30 mins - Also vague indication of a possible HNS.. With GBPUSD mostly weighed down on the Brexit concern; yet I'm only looking up on possibility it is showing. Else 151.50-60 does complete the tgt but just to be sure this to end up been a swing bottom another test and a failure would do - Else this shows the intend for a 148.XX and a stronger bull back..
Short
by TahirKhan
EURCAD - UPDATE It is slowly but surely on track.. As mentioned earlier; need some drop getting started on the EUR for EURCAD to shape up nicely.. USDCAD while seems; it is likely not done to the 294X low posted on the Friday.. Incase we hold 303X we can still go lower for around 2800 handle.. Prime supp off daily & weekly comes to 2750-6X. i.imgur.com EURCAD Daily - Current i.imgur.com EURCAD 4 hr - Current i.imgur.com EURCAD 8 hr - Incase of a hard bounce off 4690-4700; the pair can still aim for extended resis towards 1.51 handle. This is mainly as an extended supp/resis
Short
by TahirKhan
GBPUSD ..GBPUSD... Overall the pair can use a dip down to 394X and a bounce off there could make its way to testing 425X or so. As of now there are chances of a drop to post double bottom formation to 399X low and a bounce or drop fuller as per 8 hr to do 394X and then a lift off. The pair has taken more of a back seat and looking up on chart does give an impression this has more erratic swings on it then a st line most would prefer. i.imgur.com GBPUSD 2 hr - Incase double bottoms i.imgur.com GBPUSD 8 hr - Preferred playout - down to 394X and then a bounce for having a temp low then to be in
Long
by TahirKhan
GBPJPY UPDATE.... The pair end up bouncing off the weekly minor supp off 151.6X and done a decent retrace so far. However; I think we just may dip once more and get to post a double bottom formation. Spotting a possible Bear Flag formation on 15 & 30 mins time frame and we just may top out rt around to 154 handle for the slide to take it back to testing lows.. Initial resis kick starts off 153.6X but hoping to see it makes it to around 154 handle.. 152.30-4X likely to find bids on the drop now .. i.imgur.com GBPJPY 15 mins - Possible Bear Flag
Short
by TahirKhan
GBPJPY.. Tentative View.. 151.50-7X may provide temp bottom ..IT seems everyone is hitting longs on the GBPJPY; where as it shows some significant drop. It is difficult to chart on smaller time frame; hence weekly is what I'm going with.. 155.2X been a break point could come into retest.. I suspect 151.50-7X could form a temp bottom to get some lift off towards 155.XX. A failure to say 155.5X and we can see new bigger leg down towards 148.XX. i.imgur.com i.imgur.com GBPJPY Weekly - Alternatively incase this is in no mercy mode; GBPJPY can simply drag all the way down to 148.XX before rebounding. That also would make sense; since as long as traders would think it can't drop any further it would just do the opposite and take most of the traders trading into bias to the butchery, before reversing
Long
by TahirKhan