30 Days OutlookAnnotations on the chart.
This is an update of my last chart "Anticipatory layout with important trend lines, levels, time fibs"
Fibo
Anticipatory layout with important trend lines, levels, timefibsWe might be cought in sideways within the red channel for another 20 days.
I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago.
The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ).
The question is what will happen after the yellow box? The red box like last time?
Then we will definitelly see 280 again.
Or if 320 holds (looks like some strong demand is sitting there),
we'll see another pump like seen in the last green box !
Also check out the time fib analysis :
0.382 & 0.618 were important points in time, so 1 will probably be important too! Likely a major low/high in price.
The target for a bullish move is the thick blue dashed line, which is this years top resistance trend line. You can expect sellers there.
Nikkei at f5 resistance / big channel retestCurrently Nikkei is at resistance of a f5 and a level in which was previously retested in line chart.
It was also halted at the channel trendline.
A successful test at h1 will be meaningful but unfortunately I do not have access to h1 charts for futures.
However this can be translated to other JPY crosses and I also see similar distribution patterns on these crosses.
Higher rates thoughts push down EurStay short EurGbp or, if you prefear, long GBP!
Since the macro economic data started to improve, the pressure on the exchange rate has became stronger. The beginning of rates normalization will make the UK's currency more expansive versus the Euromoney.
At the same time, the chart seems to confirm the bearish view: It is unlikely (given also the macro-analysis) that the price will brake-up the current level @0.7895, looking also at the RSI oscillator (in 60 area), we have no signs of bullish trend beginnin. My view is that the price will continue its down trend, following the channel you can clearly see on the charts.
Take care of 0.78 area that could be a strong point of inversion or continuation of the trend.
AUDUSD awaiting AUD news on tues n wedMy bias is for short. There is a confluence of
- d1 line chart; day tf suggests a distribution pattern in place. ( red lines)
-d1 fib5
- h4 channel top
- h1 channel top with macd divergence
What I really wish to see is for price to be kept pushing higher till Tues or Wed when price exhaustion can be suggested and short will be possible. Hence my plan is not to commit till the eleventh hour, and only act when fakeout is hinted and act upon it, likely just before news.
USDJPY Gartley PatternThis Gartley completion lines up with a major structural shelf on the Daily chart. Try as it may USDJPY has been unable to make a move lower.
