Forex-currency
AUDNZD HEAD AND SHOULDERS| POTENTIAL STRUCTURE SHORT
Another shot at shorting the pair this week. The previous breakout was a false one. Yet, the pair did not have the strength to go much higher when being put back above the level. And the level is being tested again.
I say, that there is a good chance of a successful short if the breakout is confirmed this time.
Also, there is a head and shoulders pattern visible here.
So, wait for the breakout. If it happens make sure it is a confirmed one.Short after the retracement.
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Wish you all the best of luck in your trading.
USDJPY - last leg of triangle wave D, target above 111.7USDJPY is following the path forecasted in our post of May 2 and it is now tracing the last leg of the intermediate triangle wave D. This leg should reach levels above 111.7, but below 118. If price crosses down 106, this analysis should be revised. FOLLOW SKYLINEPRO TO GET UPDATES.
USD bottoming process.Post just to tie up with yesterdays post regarding USD/BRL Pair. Today it slipped hard against the BRL and went lower however i think this will be a longer process until a pivot low is formed, but this zone where we are now is a possible reversal zone. Maybe the caos regarding the protests an looting can be adding more fuel to this selling however is has bled a lot, eventually a counter force may show up.
AUD/USD (AUDUSD) - Impulse wave upAUD/USD (AUDUSD) has completed 3rd wave impulse as shown in 60 min chart. It is the part of C wave as ABC zigzag pattern from major bottom. Now wave 4 down correction is in progress, which will sharp as wave 2 was irregular flat wave. Once it over the wave 5th will again resume the trend up for final wave C up.
EURUSD 1D/TF OutlookHey traders, hope all is well!
Firstly, this Analysis of EURUSD is conducted also with reference to my previous Analysis of this currency pair which was uploaded on
the 13th April, so please do check that out as well!
Please like and follow my content to support more trade ideas/opportunities which i can share with you traders!
Now, let's begin with the technicals:
EURUSD has been consolidating between Highs and Lows since the beginning of March. Throughout the first quarter, the Euro had reached a new high of 1.13500, since the second quarter of 2019.
On the 1hr/Tf chart, we identify a pattern called 'hammer' suggesting to us a bullish outlook for up to 12 hours.
EMA (Exponential Moving Average) poses to us a bullish rally towards the upside with Higher highs and Higher lows.
According to our 4hr/Tf, price was moving steadily in consolidation before we managed to identify a breakout towards the upside @1.09794
Given that our previous high has been broken @ 1.11318, we now expect price to continue to surge, ultimately reaching our level of resistance @1.13525
Fundamentals:
Countries in Europe are continuing to reopen their economies and remove barriers to support businesses and encourage domestic spending, amid a decline in Covid-19 cases.
Severity of US Protests widens with rioters causing destruction to most popular cities.
Global market demand for the dollar declining.
Economic Calendar/Important events for EUR/USD:
* Wednesday 3rd June: Eurozone Services PMI (High Volatility).
* Thursday 4th June: ISM (Institute Supply Management) Non manufacturing PMI (High Volatility).
* Friday 5th June: EIA (Energy Info Administration) Natural Gas Storage Report (High Volatility).
USD/CAD (USDCAD) - Updated Elliott wave countUSD/CAD (USDCAD) has completed 3rd wave of C wave down as ABC sequence of Y wave. Now it is correcting in 4th wave up. From triangle X wave, Y wave down is moving in simplex ABC zigzag, where C ware is extended.
EUR/USD (EURUSD) - Updated Elliott wave countEUR/USD (EURUSD) in 5th wave correction of A wave of ABC cycle of Y wave as shown in chart. Now wave B correction down in progress, which aligned with DXY. From major low made on 23rd April, price is moving up in (W)(X)(Y) wave up, where (W) and (X) were over and (Y) moving up in further WXY. Currently Y wave subdivided in ABC, where B is finally in progress, after that one more wave upC will proceed to wave Y completion.
US Dollar Index (DXY) - Updated Elliott wave countUS Dollar Index (DXY) has completed 3rd wave of C wave in ABC sequence of Y wave in WXY wave from top made on 20 April. As shown in chart from the top price moving down in WXY complex correction, where W & X already over and Y wave is divided in ABC flat wave, where A & B were three wave movement and C impulse is running down. It has completed 3rd wave and now correcting in 4th wave.
EURGBP: LONG: consolidating from strengthEURGBP is a long, so long as there isn't a sudden selloff that isn't recovered quickly, during high volume hours.
Target 0.9080
Bullish Channel H4, bounced on the lower channelJust look for buy, Gold is still bullish in the upper timeframe.
Expecting to breakout upper trendline.
Cheers!
GBPJPY iDEA ;;Harmonic Patterns are not enough to taste consistency (and high win %) !
You should have a complete strategy that tells you :
>> when to get in ;
>> how long to stay in;
>> when to get out;
>> And what to do in bad scenarios;
_i can tell you that books will help you to reach your dream strategy !
_But if you want to save time and effort > contact me <.
eurgbp long 🏌️📈British pound was one of the top 3 strongest currencies today AUD number 1 of course. But the Euro maintained its strength as well. Looking for a drop to support 2. We will see how strong the euro maintains it strength againts it's rival the Pound. I will buy more when it does drop. As long as there is no negative ECB news. Has not broken my trend reversal trend zone. I believe the next retest will break through as we are just hovering below. If the next one does not break i may short. Thanks mates. Feel free to like and comment. If you have a chart you want me to analyze leave me a comment.
CADJPY - SHORT IDEAHello all - another idea here. I am predicting this pair to sell on this area. Let me know your thoughts.
EUR/GBP LONGDESCENDING TRIANGLE PATTERN .. WILL NOT PLACE SHORTS AS THIS PAIR IS BULLISH. POUND IS RECOVERING GAINS FROM LOSESS LAST WEEK. LONG ON THIS ONCE SUPPORT ZONE 1 ENTERS. LOOKING TO BUY MORE ,8900 RANGE. IDEAS THOUGHTS SHARE. THANKS MATES!
GBP/JPY - Buy PotentialGBP/JPY - 14/05/2020
We can take a long position for this pair as 1HR chart appears to form a bullish harmonic pattern and the support level hasn't been broken which indicating a bullish signal.
EUR/JPY - Downside potentialEUR/JPY - 13/05/2020
4HRb chart shows a potential short opportunity as the price is heading towards the upper trendline of an ascending channel. We may wait for confirmation to sell this pair.
GBP/CAD SMALL LONG Local long, from the support line. 1.5 risk reward.
Close half the position at 1:1 as always.
On larger timeframes I am short biased.
The weekly chart indicates that the pair is trading at a massive resistance area.
Very interesting to watch.
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Wish you luck in your trading.
Long postion for EURUSD!Due to the price action level, we have an important level 1.08972 if it can form monthly on it we long position for a few months. if it broke the EURUSD fall to the 0.99701 price level.
Nzdchf long 1h chartBased on the previous rejection and climb, we do it again and go up from the moving average lines.
