CodeAndQuant

CodeAndQuant

USDCAD looks to have completed its 5th wave move lower and we have RSI and stochastic divergence. We favour an ABC correction into 1.3630 where 1.3630 will either be the A or the C. Entry 1.3415 TP1 - 1.3630 (5:1 reward:risk) TP2 - 1.3725 (6:1 reward risk) In reversal we favour phasing in 3x shorts from 1.3412 into 1.3410 and 1.3360 in extension for break...

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Continued USD strength will see a test of 17.00 In the meantime; Buying here requires a stop loss below 15.50 or 15.00 So rather sell 16.15 and reverse above 16.36 TP1 15.65 for 1.7:1 reward:risk TP2 14.66 for 3.8:1 reward:risk In reversal moves into 16.93 give 2:1 reward:risk

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Scope for a 5%-6% move in either direction. We favour lower with a tight reversal. Sold 81.88 for targets into support at - 80.50 - 79.50 - 77.00 (5th Wave ) Alternatively looking to phase in a 3x Reversal above 82.00 for an upside target of 87.00

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Note: Signal line on Stock RSI has not crossed over and RSI is neutral. Pays to wait for a bearish candle. 1.3630 is key support. Sell into 1.3630 1.3540 2:1 Reward Risk 1.3450 3:1 Reward:Risk Look to phase in a 3x reversal (and go long) between 1.3840 and 1.3870

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Overall trend is down however ; Stock RSI crossed and moving higher RSI made a flat low & price made a lower low Pair has started moving so 80.85 holds and price allows for proper Reward:Risk, buy for moves into 81.80 and potentially 82.30 In reversal - below 80.80 3x reverse for moves into 80.60 for break-even or 80.40 for some profit

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GBPJPY looks to be completing a 5 wave formation Below 1.6250 negates in which case reverse twice the long position

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Chart is self explanatory. Equal legs ABCD into rising trendline support 2x reversal below 0.9590 for break even

CodeAndQuant

Either buy these levels or buy the break of the 45 degree counter trendline 10.50 reward:risk is sweet like icing sugar 0.6580 and below negates. Hedge the long and open a 2x short for break even or moves down to 0.6460

CodeAndQuant

EURUSD looks to be in the 3rd wave of a bullish 5 wave formation Buy here (1.1300) into 1.1400 alternatively pullbacks into 1.1100 present good buying opportunities (5:1 reward to risk) Below 1.1030 negates Target is 1.1550