USD/JPY daily chart has downtrend. After correction it can be a good opportunity for a long position in lower timeframes by making new top and bottoms.
Main trend in EUR/USD daily chart is downward. It also has made more 50% correction. Now it can be a good opportunity for a sell position in lower timeframes.
EURUSD is going up in short term. However long term trend is downside. If EURUSD breaks out the resistance level, it would touch 1.1755 , Let's see.
EURUSD (H4): It seems wave (iv) is going to be finished. So we can open a short position by bearish signals (price action and indicators). The possible target can be 1.1600. Agree?
As the chat illustrated USDCHF is in 4th wave. The red rectangle is high potential zone where corrective bearish trend can be finished. So we can wait for price action and indicators signal to open a long position in this zone. Let's see what will happen.
USDJPY after a 5 waves cycle is making a correction. It can be an ABC PATTERN. The possible targets has been marked on the chart.
XAUUSD has made a complete cycle( 5 impulsive wave and ABC pattern). It seem counter trend is finishing and new bullish trend will be started.
As the chart illustrated, XAUUSD chart made a bearish gartly pattern. It can be good for a SHORT position.
EURUSD had a strong bullish trend. Then it made an ABC pattern.Now it started a new cycle. I think wave (1) has been finished and EURUSD is making a corrective wave (2). We can use it for a short setup.
It seem AUDCAD had a Bearish impulsive wave. Corrective wave is continuing for now. So it can be a good opportunity for a long setup with reasonable RISK TO REWARD.
As we can see in the chart, USDCHF has started a new bullish cycle. The first wave has finished and it's making a corrective wave. I think wave (A) is going to be ended. Then USDCHF will have a bullish wave (B).
EURUSD made a bearish BAT pattern. It can be a good opportunity for short setup.
As the chart illustrated, DXY is making a triangle pattern. It had a break out, but I think it's a fake break out. when the pattern get completed, DXY can start a new rally. It's a good opportunity in USD crosses. We can see this pattern in USD crosses too.
As we can see on the chart, Gold made an bearish impulsive wave with ending diagonal pattern. It is making an ABC pattern. So I think Gold is bullish for now. The PRZ that can be the end of correction (C point and possible target) has been marked. On the other hand this zone is an important resistance.
USDJPY (4H): As you can see in the chart, 5th wave has been completed. Then it started a correction. Corrective wave can be in an ABC pattern. PRZ that can be end of the correction is marked in the chart. After the correction we can set up a long position.
After a 5 waves cycle, EURUSD started a correction trend. The correction could be an ABC pattern. We can't say where is the C point exactly but It seems the correction is ending in zones I marked. So I'm waiting for a new uptrend and good point to set up a LONG position.
As illustrated in the chart, the truncated fifth wave couldn't move beyond the end of the third and GBPUSD is starting a corrective wave. On the other hand the SUPPORT line has been broken. So GBPUSD would be BEARISH.
After completing ABC pattern, EURUSD has started a new impulsive wave. So it will have a new downtrend. It seems great to setup a short position.