CADJPY is showing price action in the form of a bearish engulfing bar at the strong resistance area around the 88.000 level.
Price can go down until (at least) first support area @85.500
The EURJPY has been in a descending channel since the beginning of August and is currently in the upper range of aforementioned channel. In addition there is also a horizontal resistance area @129.000.
The only thing that is bothering me a bit is the fact that price is stalling at current level... preferably price touches/pierces resistance and moves away from it...
The Euro against the Swedish Krone is showing a false breakout through support level and a successive rejection afterwards at the same support level, which to me indicates that price can go higher from here. In addition it could very well be that the sellers that are trapped now have set their stops above the consolidation area at 9.55, which would mean a fast...
The USDJPY pair seems to be bound to the 109-111 trading range currently. The 109.000 support zone was tested and rejected, therefore I expect we can go up and maybe test the 111.000 area again.
In case you missed my earlier D1 trade idea, here is another chance to get in, this time on the H4. Price has pulled back to previous support break area and is now heading south again.
I expect a couple of more pullbacks along the way, but in the end the 84.000 area is my final target.
Gold has shown a clear rejection at the strong resistance area at $1300. From here we can go short at least until first TP at around 1260.
The more risky trader can try to ride all the way towards 1220. Although I usually do not look at sentiment, in this case with the current political uncertainties I keep my target at 1260.
Moment of truth for the EURAUD: will it go back into the bearish channel or does it bounce back off the upper band and will it continue upwards?
We will probably know a lot more by the end of today and/or tomorrow.
If price respects upper band of diagonal channel and breaks previous low, a short opportunity arises.
I see two possible TP's (a conservative one at first horizontal S/R level and a more risky TP at lower band of channel).
