UnknownUnicorn4263724

UnknownUnicorn4263724

Price will move to TP1 target as you can see the hanging candles should find a structure. I would then place a sell limit @ 73.45 for a re-tracement (SL = 74.00 & TP in indicated levels on chart) and also a sell stop @ 73.00 to capture the entire double short move to next TP2 target (Second Support Line). This trade is valid only if the daily support line is...

UnknownUnicorn4263724

AUDJPY has been bearish since 2 weeks. Its about to hit the bottom of the channel and should retest the top trend channel as indicated. Either direction is possible. If it breaks the trend line channel, it will be a bullish bias and if it rejects, the bearish move should continue to the 67 range. No trade as of now.

UnknownUnicorn4263724

Possible Long On GBPJPY.

UnknownUnicorn4263724

I think that price will touch 73.26 region before falling given its bullish run now. Look for shorting opportunities there. Reversal candlesticks etc. As per latest COT report, JPY is net long positions and NZD also long so there maybe a consolidation in this pair even without hitting weekly resistance. Price can reverse from cmp too.

UnknownUnicorn4263724

IMO, this bound to reverse soon. If this is broken, expect price to head higher to 77.80 region and this setup will be invalid.

UnknownUnicorn4263724 Updated 

In my opinion, there are several indicators on why we should be shorting this pair. You may have different views and this is definitely not meant for as an investment advise. Pleas do your own analysis and let me know if you agree with my analysis. 1) Price is correcting from its free fall of March 09 2020 to 78.6% Fib Ratio to 0.6696. Possible that price will...

UnknownUnicorn4263724

Just a possible scenario but let's see what the price actually does. Good Luck!

UnknownUnicorn4263724

Possible Scenario

UnknownUnicorn4263724

5 Waves of the Bulls completed symmetrically. Time for a corrective move down (ABC WAVES) As seen, price actually broke down from Wave 5 so highly likely this pattern will emerge.

UnknownUnicorn4263724

Rising wedge followed by price touching top of trend line resistance. It should find support of 68.60 range sometime soon and hit back trend line resistance before making its way down to support of price range 64. RSI is following overbought conditions on 4H timeframe and it's the second reason to why it should reverse from here. And again, nothing is certain....

UnknownUnicorn4263724

I am really not sure what's going on with the EURAUD pair since last week. I can see that it's moving up and down through the trend line channel. Hope to see it hit TP1 = 1.7304 range if it respects the trend line support. Given the RSI reading of 30-36, i think conditions are oversold and its time for a big move up. Fundamental news may change the outlook of...

UnknownUnicorn4263724 Updated 

The Elliot Wave Analysis Model mentions 5 waves of the trend. 1-3-5 being the impulse and 2-4 being corrective waves. I am expecting wave 3 (the longest of them all) to kick in very soon. Let's monitor this for some time then

UnknownUnicorn4263724

This pair is about to go higher!

UnknownUnicorn4263724

Price broke down the rising wedge and as you see it hit the price of 67.61 yesterday. It's inevitable that bears will take over this pair to its range of 60-61 range! Time to make some huge pips

UnknownUnicorn4263724

Self Explanatory I Guess

UnknownUnicorn4263724

Price might be testing the 200MA if it breaks above the trend channel. 2 Ways to look at this: (1) Given that the 200MA is sloping down, a short bias would be more predominant in this trade. (2) However, it may rise, having a bullish breakout using the trend line support given the current situation in US as the economy further deteriorates where AUD picks up...

UnknownUnicorn4263724

EURGBP just broke above the trend line and was not able to break past the strong support of 0.8711 on the bullish trend line.We might see this going on a bullish run given that MACD is crossing above the signal line in the weeks to come. ***NOT AN INVESTMENT ADVISE***

UnknownUnicorn4263724

EURAUD has been in a bearish fashion following the trend channel. As the candles are getting shorter, it implies that there is lesser supply coming down to towards the support line at 1.6790-1.6800 range. An opportunity of buying on a long term is on the cards back to its 1.8751 range.