The trend on the 4hour timeframe is bullish. According to Elliott Wave Isolation approach, EURUSD could be on a small retracement though a small upside is expected before completing the retracement at wave 4 . I will be looking for a buy in the Wave 4 Area. The expected wave 4 is also on a very strong Daily support that also serves a strong confluence.
I am looking to go long on Audjpy. On the 4hour the trend is positive, If we look at the EW , wave 3 of the smaller cycle is completed so a small retracement is expected which will be wave 4. I am looking to buy once wave 4 is complete, please note that the expected wave 4 is rested on a very strong support so to me this will be a good area to start looking for longs.
USDCAD IS currently bearish on the 4Hour Chart. When I look at EW, USDCAD is on a bearish wave C, There is possibility of an uptrend if we break the 2 Hour Resistance area but for now if we break the current 4 Hour support zone, price has a potential to reach wave C which the target area. If the price goes beyond the the wave C target than we will have a strong...
