A completed descending wedge formation with a target back to previous highs of 1.58 area and a small inverse bottoming head and shoulder that could act as a launch pattern make this eur/aud trade an attractive proposition on a risk/reward basis. The inverse head and shoulder has an individual target in the 1.54 area. Reasonable stops should be set at previous...
JPY weakness is in full force here, and CAD strength as well. A massive continuation pennant( as seen on the weekly chart) or a triangle(slightly decending) . An upward breakout of this triangle would possibly push CADJPY towards 108 levels initially and 118 thereafter, as a longer term target. An initial entry could be a close above the short term prevailing high of 96.25
Continuation pattern setting up in nzdjpy. JPY weakness failing to be crystallized here due to fellow weakness of NZD (weakest of commodity currencies). However, a decent risk/reward play could be setting up with a long position favoured if a daily close above 87.50 level targeting previous highs of 89.50 region and thereafter further upside if that level is...
A close today above 1330 level should/could warrant a small long position with a trailing stop at the daily low level. A clean break above the declining trendline and bottoming triangle pattern gives reason for increasing the long position with a minimum target in the 1600 area. Failure of a clean breakout today puts the idea on hold for now
multiweek range bound pattern with possible upside breakout following a daily close above 1.09125 with a minimum target in the 1.13 range
Probable continuation head and shoulders in the making here. Prices moving beyond 1.32 negate this and prices falling below the 1.2750- 1.27 area would confirm this pattern.
EUR/NZD been synonymous with small head and shoulder patterns for the past year.Assuming a continuation head and shoulder pattern, a close above the 1.6 area could set a nice run towards 1.65, while a close below the current right shoulder low of 1.5700 could eye a similar reversal towards 1.52
Head and Shoulders completed targeting 1.12 area long term, with failed ascending triangle(right shoulder) as launching pattern. Be wary of slanting neckline though