-Bullish Flag and pennant formation -Technical shows possible good U.S economic data.
-Short to 111.3 level. -US dollar index bearish bias
-Ascending Triangle forming in progress. Not confirmed but high chance it might materialize accompanied with equities rallying.
That will be a completed head and shoulders pattern, I believe the rally this few days is just relief rally and will pull in more longs and a sell down comes, it will wipe them off cleanly and contribute to the sell down. But that is a big if. I am bearish bias as it had already broken short term uptrend.
Looking bearish, I am looking at 81.468 level. Also, moving averages pointing downwards.
-Bearish structure -Short to mid term bearish, bullish bias on the longer term.
-Bearish. -Double Top, rising wedge, bearish divergence. -Dyodd. I can be wrong........
-Inverse H&S -Above 200MA (1hr chart) -Structural SL -DYODD
What do you think?
-Wait for the neckline to be broken before going long.
Eurjpy sell down incoming? Lets see. Broken trend, H&S, toppish EUR? Will we get to 125.719? Lets see if 128.5 breaks. .
Europe outlook is rather positive in my opinion. With better economic data churning out, I think it is a matter of time Europe will start rising interest rate. More money will start to flow into Europe banks. Base on technicals, we are accumulating with the smart monies and await for breakout.
Market top coincides with maximum herds in the bitcoin market. Extremely bearish.
IF this were to materialize, USDJPY will be extremely bullish till 172.309, this will push Japan equities up.