Hi guys, so now this is the bigger picture of gold , the price itself is contained in a structure but this time I think the odds are pretty much high that it will break the above level to the upside
So guys, here's the weekly outlook of Canadian/Swiss Franc. The structure tells us that price is contained in the channel, so this confirms that the next leg is gonna be bullish one and then so on...
A great high probablity long term setup appears in EUR/JPY
The corrective structure of gold has been finished or just near to it's end
USD/TRY has been in a correction after a sharp move to the downside. Seems like it has completed it's ABC part, now the way is clear to fall
Again price is correcting after an impulse, should go further downside
Flat correction completed now will continue after a minor pullback
Silver has completed the ZIgzag (abc) structure in daily time frame plus there is an ending diagonal with a strong bullish divergence to the upside
USD/JPY is in a flat correction where it has completed the leg A and B, now to finish the remaining C leg, it has to come down in 5 waves but after then it will either reverse to the downside or continue the bullish trend to the upside
AUD/USD is just near to complete the Zigzag (abc) pattern and then it will give a reversal to the upside
In the daily chart Pound/Yen is about to complete the triangle, so either it will continue it's bullish trend or break to the down side to complete the Head & Shoulders pattern then do the continuation to the upside
USDCAD seems to be forming a double zig zag correction (WXY) in the bigger picture.
Looks like Pound dollar is in the middle of a flat structure
GBPUSD is forming an expanding triangle in the daily chart. So this structure tells us that this currency pair is in a down trend right now. I won't recommend anyone to short this currency because taking a short position right now would be a high risk, instead we should wait for the price to form a corrective structure or a pullback then sell this currency pair.
As we can see that in 4h time frame EUR/USD is forming a triangle pattern, we don't know that where will it break after completing it but still we can trade it's D & E legs