EURUSD Long Looking to Complete Wave 5
GBPUSD Short, Pending Triangle Breakout
USDJPY has a completed double top pattern which has broken below the neckline and has now moved back up to retest it. Should the neckline hold would initially aim for target 1, this are has provided some resistance in the past so may support any move down. Would move the stop down to around 106.75 if we achieve the first target to protect any profits should prices...
Possible short trade, expecting USDCAD to fall back to the lower channel line. Good risk to reward of 4.5:1. Stop is placed outside of the upper channel line, if stopped out would need to re-evaluate and possibly look for a long breakout trade.
AUDUSD Long Channel Trade, looking to find support at the lower channel line before moving back up to the upper channel line. Stop is placed just below the previous swing low and the recent support line. Stochastic showing bullish divergence, not confirming the move lower in the currency pair.
BTCUSD looks to be currently working wave B of 4, looking for wave B to terminate around this area and BTCUSD to then move higher to complete wave C over the next few days. Long term there is potential for further downside momentum for wave 5, targeting the 3180 level for the completion of wave 5.
GBPUSD has worked it way back up to test the Head & Shoulders neckline for resistance. Should the neckline hold would be looking to go short for an initial target of 1.39850, the origin on the left shoulder.
Looking for a move lower in DXY to complete wave 5 of 5. Targeting 2.0 Fibonacci multiple of blue wave 4 at 86.76.
EURUSD Long trade pending falling wedge breakout. Target is 1.2376 which is achieved by projecting the distance of the widest part of the wedge up from the breakout point.
Wave 4 looks to be complete. The low at point 4 is around the 31.8% retracement of wave 3. Looking for a move above resistance at 1.23000 (R1) and a break above the 10 MA to signal the end of the pullback.
CHFJPY at support, could move higher.
EURUSD Targets Pending Descending Triangle Breakout