Waveanalyis
AXSUSDT 1H: Possible LONGOn the hourly chart, #AXSUSDT has the potential for an uptrend to 15.0$,
SL 13.65$
USDCAD UPDATEUSDCAD has recently made a change of structure from a daily perspective after forming a head and shoulders formation price made a bearish impulse to the downside breaking the lows, after the impulsive wave USDCAD has provided us with a corrective wave, after which i will be looking for the continuation to the downside, we have a beautiful zone of confluence with the 0.618 fib and the descending trendline potential 3rd touch - also lines up beautifully with the psychological level of 1.29500. I will be monitoring PA all around this area for potential entry confirmations on the LTF according to our strategies.
GBP/JPY WXY Corrective WaveThe climb from the low of $164.65 is revealed as 7 swings structure in the form of WXY corrective wave to complete wave (ii) of (C). Expecting price to decline in another 3 waves after this structure complete to correct the cycle from the low of 12th May.
EUR/JPY WXY Corrective WavePrice is within 100% - 127.2% fib extension from low of $141.38 and anticipating price will end this correction and begin to decline towards $137.81 to correct the climb from low of 7th March.
AUDUSD UPDATEAussie dollar is looking beautiful here for a potential rollover from the psychological level of 0.7000 which is a strong confluence of supply with the 2H horizontal resistance and 0.618 fibonacci. On the 1D timeframe although we saw a strong bounce from weekly demand last week, the structure is very much still bearish we have a daily impulse correction continuation pattern and im expecting the market to sweep the LQ below the intraday lows.
Monitoring PA on the LTF for potential short entry confirmations to target the low of the previous week
DXY BIG SELL BREAKDOWN This is my anticipation on Dollar Index for upcoming weeks. Currently, sub-wave C of wave 4 just kicked off. It contains 3 waves i.e. corrective wave ABC waves as we can see on the chart above. Let’s see how the market will play out as inflation keeps on decreasing.
To enter, wait for channel break followed by a bear flag, then it’s safer to enter the market. Fibonacci retracements can be of a better use if price rejects your fibs level with other confluences such as 21 ema cross, etc. Good luck traders and have a blessed week.
