GBPJPY Continues LowerAfter the pair retraced backed to the 38.20% region, a beautiful reversal can be seen indicating that the pair will continue it's downtrend. With a nice 3 black crow candlestick pattern displayed, it only adds more confirmation that the pair will reach for lower lows in the near future.
Alexchan
GBPUSD breaks trendline! Heading LowerWith a break of a trend developed since last month, GBPUSD seems like it will continue its downtrend toward lower lows. Currently the pair is sitting at a crucial 61.8% retracement level and has an oversold RSI. I expect the pair retrace back up towards 1.43732 first before heading lower towards 1.42200.
EURAUD correction complete? And going back up?With prices currently hovering around 61.8% levels with oversold RSI levels. We can expect the EURAUD correction to end around here at the 1.5605 region to head back further higher. However, prices may fall to the 76.4% before heading back up. With that being said, aggressive traders can enter now, or wait till a reversal signal has been made.
USDJPY HEADING BACK UPJPY announced a -0.1% interest rate on January 28th and popped over 200 pips. Since then the market has calmed itself down and retraced back down a little. Now USDJPY reaches a crucial level of 61.8% retracement level. With heavy oversold RSI, overall bullish market, and bullish trendline protecting the pair, I think it is safe to that USDJPY is going to reach higher highs.
AUDUSD finally heading back down?Looking at the daily and weekly trend, AUDUSD is clearly in an overall bearish market. After hitting lows of 0.6830 during mid January before heading back up, AUDUSD made a clear stop at 61.8% fib levels on January 28th. Could this be the signal we've all been waiting for? A beautiful spinning top could be seen forming, and what I can expect from this pair is a drop to AT LEAST 0.70168 levels will hopes of passing by the previous lows of 0.6830.
GOLD HEADING HIGHER?Gold is just about to break a new high created since the beginning of January. A break of this level may send gold even higher. However I do suspect a suspect a 3 wave tracement slightly lower before going higher.
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EURUSD CURRENTLY IN A WEDGEA clear wedge formation could be seen forming on EURUSD. As prices fail to make higher highs, prices are currently moving lower. I suspect that the pair will break below 1.0813 support to make lower lows in the near future. However, it also does have opportunity to go higher as well, so be cautious.
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EURCAD and EURUSD bearish reversal?!?!With a stop at a strong trend line, price action and RSI suggest that a reversal down might just happen. Other correlating pairs such as EURUSD supports this claim as they are all near MAJOR consolidation areas
short @ the stop of 1.5200
stop @ 1.52381
t/p @1.5099
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XAUUSD (Gold) Bearish Divergence formingShort Analysis:
As gold is creating slightly higher lows and RSI is indicating lower lows, a bearish divergence could be seen. With that being, we can expect gold to drop to 50% fib levels (1070.64) later on the week
Long Term Analysis:
Gold seems to be in a bullish run. However i expect it to come down slightly before make new highs.
Short @ 1079.47 region
Stop @ 1083.12
First T/P @ 1073.77
BREAK OF MAJOR SUPPORT LINE!!! SHORT EURUSD??!?After a break of a MAJOR support line developed since the December 3rd through the ECB announce. EURUSD seems likes finally going to head back down after a sideways run!!
Short term Analysis:
Wait for the pullback and go short short short!!!
Long term Analysis:
SHORTTTTT!