ChartReadings

ChartReadings

My previous post on GBPUSD shows a STANO 1.0 pattern which projected a reversal for a BUY entry. As we all know that price is the BOSS and we as traders are bound to respect that. An INVERTED HEAD and SHOULDERS PATTERN was spotted on 4hours time frame to support the bullish idea. A break-out of the neckline is needed to confirm the bullish move. I remain bullish...

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AUDUSD is expected to push up after a completed inverted head and shoulders pattern, rejecting a valid trendline and also projecting C - D leg of an emerging BAT PATTERN. I remain Bullish on AUDUSD to 0.76800 - 0.77400 region

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EURAUD had completed the 4th leg of the bearish move which the end of the 5th leg should be a confluence with the BULLISH PATTERN reversal zone. I am bearish on EURAUD to 1.51800 - 1.49800 region

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EURJPY weekly outlook shows that the drop from 137.500 after a complete CRAB pattern is the 4th wave of the elliot wave pattern. According to elliot wave rule, wave 4 should be 23.6, 38.2, 50.0 fib of wave 3 and wave 4 should never enter into the territory of wave 1. Looking at 4hours timeframe, a BULLISH CRAB formation confirmed the end of the 4th wave. A close...

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A shown on our previous forecast on EURNZD. Click link EURNZD just got to my target point which i will be expecting to go LONG after a candle confirmation at the region of 1.68500 - 1.68000. More update later.

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EURJPY is currently at the end of the 4th wave of the weekly impulse wave. Taking a closer look, price seems to be forming an emerging SHARK pattern but before that, i could spot a STANO 1.0 PATTERN on 4hours timeframe to kick start the wave 1 of the 5th wave on the weekly chart. A candle reversal is expected at the region of 127.500 - 127.000 on intra-day...

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GBPJPY bearish move formed an impulse wave which a STANO 1.0 pattern is moving towards completion at the ending of the last leg of the 5th impulse wave. A candle confirmation is needed to go LONG. A break below 145.300 renders the count invalid.

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As forecasted last week. GBPUSD is currently falling into the BUY zone at 1.33600 - 1.32300 to form a complete STANO 1.0 pattern. A reversal candle confirmation is need to pick a BUY entry.

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EURNZD is current forming an EXPANDED FLAT wave 2 correction of the impulse move from 1.66700 - 1.72560. The expanded flat correction is expected to complete in the region of 1.69000 - 1.68000 to also complete a CYPHER pattern. I am bearish on the short term and remain bullish on the long term.

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GBPJPY is currently forming a GARTLEY pattern to end the 4th wave of the elliot wave count. Elliot wave principle states that wave 4 should be 23.6 Fib, 38.2 Fib or 50.0 Fib retracement of wave 3 and wave 4 should not enter into the territory of wave 1. Following this guide lines and principle in conjunction with harmonic pattern, we could see a GARTLEY pattern...

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USDCAD impulse wave 1 of the minor 3rd wave ended at 1.30000. The corrective wave labelled ABC is expected to end at 1.27600 - 1.27000 region. A LONG position at this region with a candle confirmation will be a good entry. Stay tune for the next update

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CADJPY formed a SHARK pattern to complete the C leg of the corrective wave of the bearish impulse wave on daily timeframe. Price is expected to drop any moment as there is an emerging weakness on CAD. Stay tuned for the next outlook

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AUDCAD formed an inverted head and shoulders pattern on H4 timeframe after completing the 5th leg of the major bearish wave pattern. An emerging 5-0 pattern is currently forming to form the A leg of the corrective wave. The inverted head and shoulders will be valid only if the neckline is broken.

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EURNZD is currently forming a SHARK pattern on the weekly chart. Taking a close look at price behaviour, price is currently trading at the 3wave of the 5th leg. I remain bullish on this pair.

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EURNZD is currently trading at the minor wave (iii) of the 5th wave. Price is expected to rise towards 1.76000 and above to complete the 3rd wave.

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Gold dropped into the territory of the reversal zone for the 5-0 pattern and also hitting the lower line of the price channel. A pull back is expected at the current price zone with a candle confirmation. A break below 1285.00 renders the analysis invalid.

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AUDNZD is expected to rise towards 1.09200 - 1.09800 region to complete a STANO 1.0 pattern. A drop is expected from this price zone towards 1.07000. A break above 1.10000 renders the pattern invalid.

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GBPUSD is expected to fall to 1.33600 - 1.32300 region to complete the 5th wave and a STANO 1.0 pattern before a rise in price. I remain bearish to the BUY Zone.