Similar to my post on GBPJPY. I am expecting a ABCD completion at previous support. There is a possible one more up move to the .50 fib level. The difference between the two pair is that UJ have not broken the trendline yet. Therefore we must wait for the break out or look for a setup at a higher level.
Trade with care.
I have been waiting for this pair to break the consolidation it is in. It appear this pair will complete the ABCD pattern. There is also a gap if you look carefully. Once price reach the gap we will be looking to long from there. As of right now, we will wait for a retest of the break out to enter short towards the completion of the CD leg.
Trade with care.
This pair appears to be ready for a big drop to the downside it gave us some nice price action at the top of the TL. I will be looking for a breakout and a trend continuation pattern but below the TL on lower TF to confirm the move
As we can see on USD/CAD chart, there's probably a channel in play and the news USD went neutral and CAD went bearish, so lets see what happen, OIL
happy and safe trading (follow and like for more.
WTI: USOIL Pushing up against resistance again so am locking in profit - it still looks strong - but you never know - so am locking in now and looking to go long again 15 or so higher once overhead resistance is cleared
DXY: Doillar Index - double bottom at 96.8 - loss of downward momemtum - and trying to rally as per comment - all Dollar shorts should have been closed as per last comment by now...consider getting long $ for counter rally using DXY as guide and trigger.
Copper: CUUUSD It's getting time to close down longs as risk reward from here is skewed unfavourably. Nevertheless there should still be more dollar weakness to come and it should force Copper higher still, into the perfect short set-up if DXY falls to target at 95.10
WTI Spot: USOIL Pushing against near-term resistance and needs more Dollar weakness to move up further from here: should come back some from here to give another buying opportunity as per comment. If trading this PLEASE watch DXY chart. The will move in near perfect opposite direction in the near term and DXY is pulling WTI, not the other way round...and the...
EURUSD: The Euro is trying to break to the upside again - but it needs confirmation from DXY to power ahead from here. DXY has to break below 97.3 to let Dollar bears run riot again from here. Keep an eye on it. It should be defended in 97.43 to 97.33 range by last dollar bulls. If/when 97.3 is broken it will effectively say that the Dollar has lost its last...
