Bearish bias is most likely a possiblity, a short direction might take out the AUDUSD support zone. Watch out for pullback in the buy direction for sniper entry
EURUSD short run has taken out 1.17500 psychological level and might possibly take out the 1.17000. If this doesn't hold, the pair might further descend to test the 1.16000 level.
A classical downtrend pattern can be seen in the weekly time frame. A perceived USD weakness might keep the USDCAD bears in full control this week. A closer view to the 1H time frame shows the classical double top pattern, a bearish pattern. I would likely bet on a bearish continuation this week.
EURUSD had a bullish drive up to an all time year high in January{1.23493}. A background USD strength had brought about a bearish EURUSD trend. The (1) impulse wave had been completed, followed by the (2) wave retracement, confirming an Elliot wave pattern. Although the (3) impulse wave is still yet to be completed, a bearish reversal pattern around previous...
USDCHF Pair still has a huge tendency of continuing in a bearish trend. The price crossover below the 100SMA also gives room for a retest. The Intraday time frame(H4, H1) shows an oversold zone in the RSI. I would most likely bet on a profit target of 40 pips away from 0.88253 and a 30 pips stop loss in the buy direction.
GBPJPY has been range bound between the levels 139.950 and 137.310. A recent breakout though short lived, but a retest at 139.388 shows the bulls were more likely to push pass and sustain the bullish trend. A naked analysis would favour a long entry with a profit target of 100 pips and stop loss of 30pips from 139.735.
