Very possible direction and set up for USD/CAD. I would wait for at least Tuesday to see any possible opportunities
This is an institutional move, AUDUSD as expected moved up to the high of last week and tested that level and now we have an opportunity to sell back to the down side which will probably stop out a lot of traders trying to go long on this pair. It is what is though, let watch and see how the trade plays out and always remember RISK MANAGEMENT.
From last weeks entry on the long run on this pair there is a continuation opportunity to break the second impulse long.
False moves were made on the pair on Monday and went back to the high of last week. The test of last weeks high which is also a key level is showing possible move to the downside
Possible move to the upside on USDCAD after a strong move to the downside on this pair
Monday there was consolidation and spikes at the low or as I would see as an accumulation of orders for the bull move for EURGBP. Unfourtunatly I see a possible strap and a possible stop hunt down to the key level on this pair before the real bullish move of EURGBP. I've been waiting and selling from last week all they way down to this key level where I'll be...
AUD/USD formed an anchor last week Friday of divergence for the reversal to the downside. False move to the down side was made yesterday on Monday and one could assume that a test of the highs this week could lead to a break back towards the down side again. An interesting head and shoulders formation is also possible forming and of course price action will...
EURGBP could reverse to the upside upon a bullish harmonic formation.
GBP/USD also testing key levels and one would have to observe price action at this level. My view could change depending on how price action reacts at this level, but I'm also looking to see if price could reverse at this level. Lets wait and see
EUR/USD has been testing a key level this week and is looking to reverse in my opinion. EUR500 is looking very bearish on the technical front, news of the Euro commercial banks having issues with the bad debt and expected loan provision has been rumbling witch can make investors a little cautious. Lets wait and see
Possible direction and reversal of USD/JPY with a bullish butterfly harmonic pattern formation. Confirmation will be awaiting, I would look for entry on the last day of the month
AUD/USD has tested key level of resistance and has presented an opportunity to the down side.
GBP weakness against CAD could be coming this week on the test of a major key level on the pair. One would again would have to look at how price action plays around the zone area of resistance. This is a possible idea of how price action could play out and I will be observing as well. Very interesting week
USD/CAD could be testing a major key level of resistance and one should observe how price action will act around these levels this week. We could also see USD strengthen this coming week so one would also have to keep that in mind, let wait and see how price action plays out this week.
GBP/USD is testing a major key level of resistance. One should look for a possible opportunity to sell this week.
GBP/USD could see USD strengthening. Technical view, lets see and wait
Possible move to the down side on formation of harmonic butterfly.