GBPJPY ANALYSIS GBPJPY broke corrective downtrendline
Pair is based above HVN at level 151.45 which indicates that GBPJPY is in accumulation phase
Pair is based above key level at 150.90
Above SMA 100
MACD shows weakness in bearish momentum
It's expected forming bullish wave (c) to target resistance level at 153.40
Crosses
Elliott Wave Analysis: ETHBTC Is Finishing A Complex CorrectionHello traders!
Today we will talk about ETHBTC cross cryptocurrency pair, which we see it finishing a complex W-X-Y correction from the lows and it can be approaching important 0.05x resistance area.
ETHBTC is in the recovery mode since September 2019, but the price action is quite slow and the wave structure is overlapped which indicate for a corrective movement, ideally a complex W-X-Y pattern that can be nearing the end as we see it trading in final stages of wave (C)/Y, so be aware of limited gains and watch out for a potential reversal down soon.
The main reason for a reversal down is strong 50 support level on BTC.Dominance chart, while ETHUSD can be finishing a five-wave cycle within extended wave 5.
We believe that reversals may occur exactly when ETHUSD completes its 5th wave. And, if we consider that BTC.Dominance may step back in, then ETH and other ALTcoins may suffer more than BTC in second part of 2021, so carefully in upcoming days/weeks. "Sell In May And Go Away"?
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GBPCAD ANALYSISGBPCAD rebounded from demand zone at level 1.7190 with strong bullish movement
Price broke major downtrendline
Pair is forming inverted Head & Shoulders pattern
Above SMA 100
MACD shows start of bullish momentum
It's expected to target key level at 1.7455
then target resistance level at 1.7605
AUDJPY ANALYSIS AUDJPY broke downtrendline
Strong bullish wave (a) ended at level 84.48
then corrective bearish wave (b) rejected from uptrendline with bullish movement
Above SMA 100
MACD shows weakness in bearish momentum
It's expected forming bullish wave (c) to target HVN at level 84.40
then finally target supply zone at level 85.45
AUDJPY ANALYSIS AUDJPY broke downtrendline
Pair is based above key level at 83.05
Above SMA 100
MACD shows weakness in bearish momentum
RSI is above level 50
we r waiting price to exceed next resistance level at 83.90 to open long trade
It's expected to target first HVN at level 84.40
then finally target supply zone at level 85.45
EURJPY ANALYSISEURJPY rebounded from major uptrendline with strong bullish movement
Price broke corrective downtrendline
Pair is based above support level at 128.30
Price is based on HVN at level 129.10 which indicates that pair is in accumulation phase
MACD shows bullish momentum
RSI is in uptrend above level 50
It's expected to target resistance level at 130.70
EURNZD ANALYSISStrong bullish wave (a) ended at level 1.6710
then corrective bearish wave (b) rejected from key level at 1.6540
Price is based above HVN at level 1.6580 which indicates that pair is in accumulation phase
Price broke consolidation area
Above SMA 100
MACD shows start of bullish momentum
It's expected forming bullish wave (c) to target resistance level at 1.6845