Pound crosses look bullish across the board before BOE meeting this thursday. Looking at this since price closed above P2 resistance level, now retesting it and we have a higher high + higher low which could suggest we are in some further upside. USD could be a "buy the rumour sell the fact" scenario, watch it closely on wednesday FOMC.
EURUSD starts to close below ascending supp. line, waiting for a really higher and failure to get into a move, targetting previous horizontal support line.
Commodity market long therm looks like bulls want to take control, moreover commodities are the best performer out of different asset classes during rising inflation period. On WHEAT I will be waiting for pullback, and then next cycle to the upside targeting upper descending resistance line, looking for the same pattern as in SOYBEAN.
JPY crosses start to seems little bit bullish, but I will be waiting for USDJPY to start moving either UP or DOWN and then trade other JPY crosses accordingly. For now waiting for upper level to be taken or lower and for cycles to develop. If one of them will be taken trade with the move.
SOYUSD overall in uptrend, looks bullish, waiting for retracement to the marked area and when it gets there pick up some longs as bulls come into the market. SL ideally below swing low. It bounced off 10.7/10.8 tops previously so do not be too gready with targets rather bank sth than end up with a loss.
EURUSD in this triangle, consolidation, so the best option is to look for cycles to develop and trade it with the W and D trend. For now, waiting for price to take previous high and when it pullback it will be the time to go long, targeting previous D highs.
