GBPJPY LONG POSITION AFTER 23% LEVEL TESTGBPJPY Long structure setup coming off of a Elliot Wave. A brief dive to 141.100 level before a retracement to 38% then 50% level on the 1 week chart. Nothing out of the ordinary. Buy on GBPJPY.
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GBPCHF ELLIOT WAVE AND LONG RETRACEMENT TOWARD DAILY 61% LEVELGBPCHF is coming off of an Elliot Wave and consolidating with slow upward trend toward the 61% level just passing the 50% level. Long term 23% levels will be attained on the monthly chart within the next year or two. Buy market execution on the GBPCHF.
GBPUAUD CLASSIC SETUP FOR LONG TOWARDS 50% DAILLY FIB LEVELThe GBPAUD chart is in a classic long structure with tested levels and currently consolidating at the 38% daily level. 50% level should be reached in the upcoming months when the RSI has reached oversold levels. Buy towards the 50% daily level shown.
EURCAD SELL TOWARD THE DAILY CHART 23% FIB LEVELThe EURCAD is at the end of an Elliot Wave and is in position to sell toward the 23% daily chart. Currently hovering right on the 61% level on the weekly chart it hasn't quite reach the weekly 78% level and the monthly 61% level but it is at the weekly 50% level in a consolidation structure. Simply put the Elliot Wave was employed because of the limbo between all of these different levels. The long and the short of it is a sell which will continue on to a downward trend following a consolidation. Check technicals for time aspect.
EURAUD TESTED A PREVIOUS RESISTANCE AND FAILED TOWARD SHORT 61% EUDAUD has broken its upward trend which is a complete 100% retrace from the 2015 plunge. After the previous test on the 50% weekly fib retracement level and fail it is now headed back toward a downward trend a "long" short toward the daily 61% level and beyond. A sell is seen here.
CADJPY LONG POSITION TOWARD 50% THEN 61% FIB LEVELSThe CADJPY is another pair that is telling on the monthly, weekly and daily charts. The emphasis here is on the daily chart just passing the 38% fib level and now towards the 50% then onto the 61% levels as stated above. Buy all the way.
AUDNZD LONG POSITION w/ CONSOLIDATION @ MAJOR FIB LEVELS (below)The Kiwi has always been a volatile currency but loyal at the same time. Several fib retracment charts were plotted to see the exact position and movement. On the month chart the AUDNZD is coming off a 3 yr downward trend to consolidate over the last 3 yrs at the 38% level. On the weekly chart the consolidation is clearly seen. But it is at the daily chart where it has tested a previous key level enough times for a reversal toward the 23%, 38%, 50%, ad ultimately toward the 61% level. Long position is recommended.
AUDJPY LONG POSITION TOWARD 50% FIB RETRACEMENT LEVELThe AUDJPY has been in a consolidation structure for roughly 16 months coming from a sharp dive during the 2008 recession. Since then it has retraced 100% and then went back to the previous 38% level. it is now making it's way back up to the current weekly 38% level and then toward the 50% level which is coincidentally the monthly 61.8% level. Everything is aligned perfectly with this pair for the long in months to come.
EURCHF LONG MOVE TOWARD 38.2% FIB LEVELThe EuroFranc is in a similar structure as a few of Franc pairs. A sharp dive around 2015 has created a correction upward trend toward it's previous fib levels. This pair in particular is no different, and being such a viable pair it will continue to meet those expected levels. A buy toward these areas is recommended.
CADCHF CLIMB TOAWRDS 61.8% FIB RETRACEMENT LEVELThe CaddieFranc is still recovering from a sharp nosedive on New Year's 2015 already retracing to the 61.8% level and falling back down toward around 40% fib levels. The pair is expected to continue to regain strength and climb back up to the 61.8% level and ultimately onto the 80-90% level, where it once was before the dive. Expect a slow consolidated/upward climb in the next few months.
EURGBP SHORT TOWARD 38% FIB RETRACEMENT LEVELThe EuroPound pair is developing a 10yr head and shoulders pattern as the downward trend has broken through a key support level previously seen before 5 and 2 yrs ago. It has continued its short toward the 23% weekly fib level and will head toward the 38% monthly fib level, as stated above. Consolidation may occur when it reaches the 38% mark, but a completion of the head and shoulders pattern will end this 15yr pattern.
AUDCHF LONG POSITION COMING OUT OF A 3 YR CONSOLIDATIONThe Australian dollar vs the Swiss Franc are 2 slow moving yet volatile spiking currencies. Paired together they have an uncommonly smooth price movement, however the pair has been stuck in a 3 yr consolidation structure with a slow upward trend toward the monthly 38% level. Though a small move, a sure one up to around the 80 price level.
EOS LONG POSITION TO 50% FIB RETRACEMENT LEVELThe crypto community is on a much needed bull surge towards 50% fib retracement levels. As a useful and usually accurate tool, these levels are supported by key price levels at previous tested levels. Given all of these considerations, a long run is expected to the 50% level, as stated above, with a solid 33% pip gain during this time.
BITCOIN LONG RUN TOWARD $89007500 is a very important support level for Bitcoin. Before the collaspe/downward trend of 2018, this level has been tested before and should have been noted in Nov 2017. However, since the advent of futures, the stock markets have taken hold of the levels of the crypto as it did with all and the fib levels are being met; as expected. An important resistance level at 8900 will be the deciding factor of the much anticipated correction toward 5 figures. Until then this area can be expected for a long position.
EURUSD CORRECTION & CONTINUATION LONG POSITIONThe EURUSD is on a 10 year downward trend from the Global Recession back in '08. Coming down from a all time high of 1.60 to its level currently at 1.23-1.25. The fib levels have all been met with resistance all the way down as expected and now is climbing again from a brief consolidation at the 61.8% level. A brief climb to 1.25 is expected at the 38% then will continue to the 50% level of 1.31. Key support and resistance zones are to be noted at 123 & 126.8 (respectively). Look for a strong 1200+ pip gain to meet the TP3 level of 135.5 around December 2018. Conservative TP levels top out around 1.31.
USDCHF 30 day Long Position The DollarVSFranc is currently in a 3+ year consolidating structure at the 61.8% fib retrace level from a previous high back in 2015 on the Monthly chart. Currently on the H4 chart the fib retracement level is at an exact merge with the fib retracement 1D chart (50%vs61.8% respectively). The previous upward trend had climbed to the 80+% level before correcting to the 50% level and now is on a continuation toward the 61.8% level of the H4 fib retracement indicator. Expect a cliomb toward 130+ pips within the next 30-40 days!
