A good chance to enter long on GBPUSD for a chance of catching a good trend leg move, stops can be really tight since it has retraced so much of the previous swing.
CADCHF may be set to recommence the uptrend and make a new high. We are waiting to see if there is strong bullish momentum in this move it is making now, if we see it showing strong bullish indications, we will be looking for a buying opportunity if it retraces back to test the lows.
Looking for selling opportunities a bit above the current market price on USDCAD. A butterfly pattern forming after a strongly extended move could bring us some correction and we may even trade back down towards the bottom of the range.
It is hard to know how strong the buyers are at this point, so we are going for a conservative target of 60 pips (20 risk) and...
Despite fast price action on the NFP, EURUSD has not broken any important levels to invalidate the trend. It has stalled on a support level but it is common for us to have a false reversal like this followed by a stop hunt move lower. We will be looking to see if this stop hunt spike down happens, if it does, there is an opportunity to get in at a very good price...
What looks like it may be the first 5 leg accent from the lows on USDCAD may have formed. Our interest for the moment and from this sort of level remains to look for shorting opportunities but we will be conservative with any targeting, if we do take any shorts.
We may find support inside this 5 leg accent and if we do, we may be in to see more USD upside. We...
Is it a bird, is it a plane? No, just the NFP sending the USD higher.
As we meet critical points, the question becomes "is this a reversal or just another pullback. EURUSD traded perfectly into a support level. It looks like an excellent risk:reward opportunity to buy this level and target a retest of the highs but I do not want to jump in front of this bus so...
A butterfly pattern could be forming on GBPJPY. This analysis replaces our previous analysis, it looks like the sellers can drive the price a bit lower for a stop hunt low, this looks like a better place to look for buying opportunities.
USDCHF has burst up in a correction and then formed a range top. We have a butterfly pattern setting up to complete near the top of the range, this is a good opportunities to set sell limits to sell the butterfly and have stops tight behind the range top. The target could be as big as the previous low but it is 80 pips to the first big support and this pays off...
After a correction we have seen bearish momentum again in the USDJPY and now we see a forming crab pattern, we may be due to see another sell off leg from here. Targeting the lows and stops just above the highs.
EURUSD retracing and offering good buying opportunities in around 1.1840 level. We hit major resistance at 1.190 and I think we may find it hard to break that level so I am targeting a retest of the highs and waiting to see what happens there.
GBPJPY has had a strong bounce from the D point of a butterfly pattern and looks like it may form a bullish gartley pattern inside of it to present a good buying opportunity.
A good opportunity to buy AUDUSD as a trend continuation with the 76% retracement of the previous swing high coming in at the same level an ABCD completes. If previous low breaks, we may see further corrections into 0.7770 area, so stops should be tight under that low.
We may see NZDUSD spike down and complete an ABCD pattern. This also compliments the wave analysis we done at the weekend where we said this may be a wave 4 forming, a spike out low would be typical of wave 4. Interested in buying opportunities at 0.7443
GBPJPY has been trading sideways for a while and seems to be in a correction from the big falls it has had. When price ranges like this it is common for us to see a strong burst move after it and it is also common to see false breakouts on either side of the range.
These tendencies make this bullish butterfly pattern possibly setting up interesting. If there are...
GBPUSD has a large butterfly pattern from the completion of which we have seen a sell off. It has now returned to the D point, also forming a small crab pattern on the retest. It may be forming a double top here which leads to some correction. There is a potential bullish set up for a trend continuation trade if this falls like this, we will post another chart...
In an alternative to our analysis where we may form a double top sort of pattern and look for an opportunity to buy a gartley pattern should one emerge, we also may see a spike high followed by an ABC correction on NZDUSD.
If we see the price contained in a tight range, making multiple false breakouts and being in general difficult to get any definable direction...
