Look for EURJPY to give bullish impulse to the upside for continuation on previous daily impulse. Currently looking at Triangle Trend Continuation Pattern NB: A Break of this trendline should see movement down to previous low.
We had a down impulse end of last year and are in a correction since this year. I’m expecting the pair to at least go down to the bottom of the channel soon. The correction might even be over, so we could as well break the channel and go below $1. Alternatively we have one more up from the bottom of the channel before we move below $1.
There is a strong case to suggest that the two encircled areas have some similarities concerning the start of the down move. IF that structure is broken you could think to sell.
As per my analysis all pairs with CAD in it are going to weaken CAD. There was a substantial breakout from the structure in CAD/JPY. Now I am expecting it in CAD/CHF down and EUR/CAD up.
There is a high-probability chance this pair could finish a flat move which could bring the price down to at least retest the bottom. IF THE BREAKOUT OF THE ENCIRCLED AREA HAPPENS YOU MAY THINK TO TAKE THE TRADE.
This pair provides a high-probability bullish trade. All you need to have is a working plan to trade or not to trade a breakout.
AUDCAD 0.03% currently appears to be in a smaller corrective structure at moment. Wave "c" appears to have just completed and an impulse wave down from the upper trend line has begun starting wave "d". I am expecting a possible buy setup and the start of the wave "e"/completion of wave "d". Watch for the buy setup if the wave "d" is completed. Thanks for looking...
We would come to a point that this massive drop in GBPUSD would come to end. Price is moving into a falling wedge pattern with MACD bullish divergence showing this down move is losing it's momentum. So what we should wait is for price to break above the pattern, watch for a buy setup and go long. But first we could take a short term sell trade into the wedge....