GBPCHF (off gas - no acceleration)GBPCHF - wait for further confirmation. Direction bias = downward. Break of support line shown = target 1.22 area
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GBPUSD (Long Opportunity)GBPUSD broke key resistance last week and currently is bucking the direction of the trend. Uptrend still intact with targets as shown. Current downward movement shows weakening of momentum with bias to the upside
GBPUSD (Showing real bullwark promise!!!)GBPUSD showing real bullish promise with good food backing it apparently. Positive close today above Resistance line shown opens next target area positively.
EURGBP (Still bullish in structure)Despite ongoing and final week downward momentum, EURGBP still has bullish structure. Strong support zone and next bullish target zone as shown. Break below current support invalidates bullish view.
EURCAD (Downside momentum still got good fuel)EURCAD downside momentum is very much on track from our perspective. Next target support shown.
EURCAD (Revised view)EURCAD view now turns bearish only as long as daily price trades consistently below 1.4646 area critical support. Further drop to 1.43 will be expected in the coming week or two.
EURGBP (Weekly Bullish focus)EURGBP pair is still bullish. Personality and structure of pair makes it vulnerable to further upside extension. Current movement is viewed as effect of instant correlation and only a break of former resistance turned support is needed to confirm protracted delay in upside extension
EURUSD (Slow stall)EURUSD further upside momentum now slowed. We need confirmation above levels shown for positive confirmation of continuation. Momentum deviations rampant in pair as shown and very volatile area of resistance now reached. Approach further doubling up to the upside with caution.
GBPJPY (Neutral)GBP/JPY weekly bullish target reached. consolidation before upside appetite again. Watching for breach of critical target zones
EURCAD (Slightly Bullish)Heavy cluster area trading for this pair - institutional order flow. Current daily bounce close to reach next daily bullish target shown
GBPCHF (Short)GBPCHF has traced out a bearish formation. Today's upward price is viewed as correction in downtrend boosted by minor economic news and trader emotions. Wave 4 of previous impulsive wave has been breached (falter zone shown) and also we identified structural resistance into which price traded last week before embarking on the current pull back. We are holding shorts with next target shown before position unwind.
EURUSD (Neutral)EURUSD pair traded into structural resistance Wednesday 17th of May 2017. Our view is now neutral. However it is worth noting that should resistance level at 1.12676 be taken out by price on a daily close basis, we believe it will be strong grounds to expose 1.14602 level trading inside resistance box shown. Above 1.14602 area will signal the beginning of the end of the down-trend that started way back on the 9th of May 2011.
On the downside, we are looking out for a price breach below 1.08434 to signal price fall extension to 1.05620 level. Before then, we see 1.10081/1.09282 as strong support zone for any retracements from current levels
AUDJPY (Long)AUDJPY is still bullish in our view. Current price action appears to be locked within a bear trap and sideways moving price action. We believe price could most likely move further sideways to form a well defined triangle at corrective wave E of (4) in the 1 hour chart before price consolidation and price rally could begin. However we need a daily price close or trading above 84.583 to open up 85.847 target and thus set-up quite a protracted bullish carry trade.
On the flipside, a daily close or trading in all time frames below 82.583 defined by downward sloping trend-line (bounding faulter zone shown) will invalidate our bullish view and expose 81.696/81.386 cluster support zone .
CADJPY (Trade Idea)CADJPY has hit strong structural resistance on bigger time frame as expected and gave up some ground to the upside last week. However, our bias is to the downside and we are looking at price as it is currently locked within bigger support and resistance box shown. Any 1 hour period price close below second support box shown over 4 hours should open up 81.515/81.292 cluster support. End of day price close or price action on all time frames at the end of any day below 81.515/81.292 cluster support will signal the start of the resumption of the bear market which started on the 09/01/2017 and will point to 77.319 as a strong possibility.
On the other hand, any 1 hour period price close above 83.218 over 4 hours will open up 83.691 as intra-day target. Also as stated previously further daily price close above 84.095 should open up 85.531. An additional push above 85.531/85.918 will completely invalidate our bearish view.
CADJPY (Trade Idea)CADJPY seems to be powering up today in green candles but we think price structure may have hit strong structural resistance per chart shown. We will be looking for a daily close below red support line shown for resumption of down trend towards 80.104 first. Further break and close below there should open up 78.131 and further price close below 78.131/77.319 cluster zone should see the downside continue to drift towards 74.936 price area.
Nevertheless, daily price close above 84.095 invalidates our dovish-ness and opens up 85.531 as next realistic upward target. Furthermore, daily price close above 85.531 brings 87.704 price region into sharp focus.
NZDCAD (Short Trade Plan)NZDCAD pair appears to have traced out what looks like a bull trap as very large corrective structure seems to still be unfolding. Current price action is proving any further advance is under pressure, at least in the near term, and our bias is now turned bearish for now. We will be looking for any price close below upward sloping blue trend-line as well as below 0.93004/0.92531 cluster zone for short positions till black support line @ 0.91831 at which point proper upward rally considerations will begin.
However, further daily price close below 0.91410/0.91182 cluster support zone will open up new downside bias till near 0.88043 @ 0.88622
Nevertheless, daily price close above downward sloping black trend-line and green resistance line will invalidate this bearish view and turn outlook bullish again
AUDCAD (Slightly bearish)AUDCAD has what looks like a bearish bias. However, further movement is structured to be choppy and we await break of 1.00745/1.00576 support confluence zone to confirm short positions till 0.99188/0.98880 confluence target. Further penetration of later support zone and black upward sloping trend-line support @ 0.98074 will open up targets to 0.96482 support zone .
USDJPY shaping up for trend continuationUSDJPY is now @ critical resistance zone shown by confluence resistance zone. Interesting candle formation currently underway. However we need a daily close below blue resistance turned support trend line to confirm definite further decline and a bearish continuation of former trend which began on the 4th of January 2017.
Will the NFP shows some aggressiveness on EURUSD? Daily Technical Analysis Friday, March 10, 2017
New NFP report RELEASE Today!
Will the US jobs report give proper signal on a March hike? Will the NFP shows some aggressiveness on EURUSD?
Modified wave count for CADCHFCADCHF wave count now has a different outlook from the bearish one posted at weekend. Corrective triangle structure seems to be valid as well as the price extension outside corrective pattern. Possible buy orders could be seen at current levels to new highs. However we will wait for price to close inside triangle pattern again to open any long positions
