EURNZD - Price action bottoming out in the short term? EURNZD is Bullish - We look to Buy at 1.7865
▪️ Continued downward momentum from 1.8263 resulted in the pair posting net daily losses yesterday.
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ We have a 61.8% Fibonacci pullback level of 1.7854 from 1.7601 to 1.8263.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 1.7865, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 1.7795
Target1: 1.8140
Target2: 1.8255
Fxsignal
NZDJPY - Limited upside within the bearish channel NZDJPY is Bearish - We look to Sell at 65.40
▪️ Trading within a Bearish Channel formation.
▪️ We have a 78.6% Fibonacci pullback level of 65.29 from 65.79 to 63.46.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 65.40, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 65.85
Target1: 63.95
Target2: 63.50
GBPJPY - Limited upside expected. GBPJPY is Bearish - We look to Sell at 130.55
▪️ We have a 61.8% Fibonacci pullback level of 130.60 from 131.41 to 129.30.
▪️ The medium term bias remains bearish.
▪️ Bespoke resistance is located at 130.55.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 130.55, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 130.85
Target1: 129.30
Target2: 129.00
EURCHF - Selling rallies within the triangle EURCHF is Bearish - We look to Sell at 1.0522
▪️ Price continues to trade within the triangle formation.
▪️ The continuation pattern should target levels between 1.0485 & 1.0500.
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Further downside is expected, however, due to the strong support below we prefer to sell a break of 1.0522, which will confirm the bearish sentiment.
▪️ Expect trading to remain mixed and volatile.
Stop: 1.0533
Target1: 1.0485
Target2: 1.0475
AUDJPY - Potential top pattern forming. AUDJPY is Bearish - We look to Sell at 69.80
▪️ Bespoke resistance is located at 69.80.
▪️ The medium term bias remains bearish.
▪️ Negative overnight flows lead to an expectation of a weak open this morning.
▪️ Although the anticipated move lower is corrective, it does offer ample risk/reward today.
▪️ Expect trading to remain mixed and volatile.
Stop: 70.10
Target1: 68.80
Target2: 68.34
GBPJPY - Selling rallies GBPJPY is Bearish - We look to Sell at 133.80
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ We have a 61.8% Fibonacci pullback level of 133.62 from 135.45 to 130.66.
▪️ Bespoke resistance is located at 133.80.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 133.80, resulting in improved risk/reward.
Stop: 134.30
Target1: 131.05
Target2: 130.70
NZDJPY - Buying at the trend of higher lows NZDJPY is Bullish - We look to Buy at 64.85
▪️ Short term momentum is bullish.
▪️ Bespoke support is located at 64.82.
▪️ The trend of higher lows is located at 64.82.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 64.85, resulting in improved risk/reward.
Stop: 64.65
Target1: 65.70
Target2: 66.00
CADJPY SHORTIF YOU LOOK AT THE TREND-LINES I HAVE DRAWN INTO THE CHART, YOU WILL REALIZE THAT THIS PAIR HAD BEEN TRADING WITHIN A CHANNEL FOR A WHILE AND FINALLY THAT CHANNEL WAS BROKEN.
I AM NOW WATCHING TO SEE IF THIS MOVE UPWARDS WILL CONFIRM THE BREAKOUT BY GIVING US A RETEST AND THEN FORMING ANOTHER BEARISH LEG.
CONFIRMATION AND POTENTIAL SETUP REQUIREMENTS:
1. STRONG BEARISH CANDLE TOUCHING (JUST BELOW) THE TREND-LINE THAT IS NOW ACTING AS RESISTANCE
2. SELL STOP BELOW THAT CANDLE
3. TIGHT STOP ABOVE THE FIRST REQUIRED BEARISH CANDLE
Bank of AmericaA new head and shoulders pattern seems to be in formation as we have started creating our right shoulder.
The bullish leg we recently had, has come to an end as price reaches resistance (which is proving to hold strong).
From here Im looking at a take profit region around the neckline of our formation and if it is broken successfully then the extended tp has also been added to the chart
Bullish Flag on JPYAUD?JPYAUD appears to be forming a bullish flag. Too early to tell, but if going bullish it is usually a good idea to wait for a pull back. Waiting also gives you the opportunity see any sharp reversals and change your mind. Expecting to see a pull back/sell off because of the recent bullish activity, however if all goes as planned it will continue to rise higher and form a bullish flag.
EURUSDHey guys I'm back again with another update. EURUSD has been confusing people lately, every one thinking the bears are finally here and the market is about to fall to the bulls coming back strong and driving the market back up. I believe that we are trading within a tight range provided by indicated trendlines on the chart. Once the channel breaks can we look for a long term move on the pair.