Trend_Analyst

Trend_Analyst

USDJPY in the short term looks bearish, current price action is restricted to a descending triangle. Marked on the chart is the 50% and 61.8% Fibonacci retracement levels of the bear market which began on the 13th of December and continued until the 2nd of January. Currently looks like we should see a retest of the lower triangle line as we continue to trade...

Trend_Analyst Updated 

USDCAD is currently trading in a triangle formation and as we head further into the apex a breakout could be looming. Trading is currently restricted to a tight range with the bulls unable to break above 1.32650. This level has acted as good support and resistance on numerous occasions during the last week. If we see a decisive move above 1.32650 the situation...

Trend_Analyst

EURUSD has been trading in a descending channel formation which began on the 8th of this month. Today saw a retest of the upper channel which held again and we then saw a retracement back to the 38.2% level of the move up from Fridays low. Towards the later part of this week we are looking for a retest of the lower channel line. I have drawn a confirmed trendline...

Trend_Analyst

Friday the 15th saw GBPUSD push higher up into resistance just below the 1.29000 level. I have marked on the chart a possible 5 wave move which would indicate Monday the 18th should see some retracement back to the 1.28600 level (wave 4) before moving higher again to retest resistance at 1.29000 before moving higher to complete wave 5. Stochastic has been in...

Trend_Analyst Updated 

EURUSD has been trading in an ascending wedge formation since mid November. It is currently testing the 1.14720 (R1) area of resistance. Should this level hold we could be looking at a move back down to the lower trendline. Profit target: 1.13631, the 4th of January swing low. Stop loss: 1.5000, if this analysis is correct we shouldn't get above here. A move...

Trend_Analyst

EURGBP is currently trading at upper triangle trendline resistance. If the trendline holds we could be looking at a move back down to the lower trendline .

Trend_Analyst

The move down from the 3rd of October high is currently at the 50% retracement level of the entire move up from the 21st of July low. Should this level hold and we see prices push higher the 32.8% retracement of the move down from the 3rd of October high would be at $74.4. This would be my upside target. Stochastic is in oversold territory and has been for some...

Trend_Analyst

Updated EURUSD Wave Count

Trend_Analyst

Possible short trade pending a move back below the lower triangle / trend line . A move above 0.71420, the 38.2 fib level would negate this analysis.

Trend_Analyst

EURUSD Possible Wave Count

Trend_Analyst

EURGBP Has been trading within a channel for the last 9 months. It is currently testing the upper channel line, the last 2 days candles both with long upper shadows show the bulls are not able to push prices higher at the moment. Fridays doji candle shows indecision, the bulls managed to push prices higher but the bears drove them back down again to close near the...

Trend_Analyst Updated 

Good opportunity to catch the potential wave 3 price action. If price moves back above the lower channel line the analysis is wrong and we have a tight stop in place.

Trend_Analyst

USDCAD looks to be in corrective mode following the double top which tested .618 retracement of the move down from the 13th of March high. There is a strong support level below (highlighted by the channel), which i'm anticipating will hold in the short term. This level will need to be broken to the down side taking out the previous 2 swing lows to confirm my...

Trend_Analyst

EURCAD has been trading within a rising channel following the impulsive move down from the March high. A decisive break below the lower channel line would confirm possible wave 3 price action.

Trend_Analyst

AUDNZD Possible Elliott Wave Interpretation

Trend_Analyst

Current price action looks to be corrective. The move down from the January 2017 high fits well into a 5 wave impulsive structure so a correction could be expected before we see DXY move lower.

Trend_Analyst

GBPUSD Possible ShortTrade

Trend_Analyst

AUDUSD Possible Elliott Wave Count