jbourgault

jbourgault

Last consolidation might be over. I'm already long on this pair. Target : TBD

jbourgault

The current weekly consolidation looks more and more to be over. Price broke the upper range of the channel, went back inside, to finally test back the top of the channel at 0.7200 before retracing. Plus, this bearish view is in line with fundamentals (US data going back up, risk-off mood related to Brexit). Stop loss : 0.7315 Target : 0.6015.

jbourgault

OIL is slowly going back up which drive the markets up. AUDUSD is among the good candidate to jump onboard. I'm monitoring the breakout of the current consolidation zone (wave 2) in order to ride what could be an impulsive wave 3. Target #1 : 0.78 Target #2 : 0.80

jbourgault

Gold just retraced to the 0.5 fib level + touched a previous important trend line and reverted right away. Let wait a little to see if it doesn't retrace back to higher level...but the propability are in favor of an another leg down from the previous down fall. Target : 1253 Stop loss: 1303

jbourgault

Since 2015 Q1, the USDOLLAR was trapped in a huge cosolidation phase related to whether or not the FED would hike rates. As of today, it looks like a channel is forming on the daily chart. Which could be in fact, the wave 4 (ABC correction) of a larger super-cycle. We can also see that bottoms/top are also taking place in many USD pairs. It's still a be early...

jbourgault

After a long bearish run, the USDOLLAR started to correct all over the place. Both the AUDUSD and EURUSD pairs went south starting yesterday. For both pair, a top could be in place.

jbourgault

This pair has went south for a long time now and should be ready soon to correct. The CAD employment numbers were really good. Which could have trigger a last move down. The pair now seems to have touched the bottom of a channel which (if holding) could provide a good base for a bullish run starting next week. EURCAD has a similar setup.

jbourgault

Seems like a B corrective wave just ended after a perfect retracement to the 0.232 fib level. Riding C downward look likes a good trade. Take profit : 2008 low/previous daily trend line @ ~33 Stop loss : a couple pips above 0.232 retracement level @ 38.5

jbourgault

JPY is going back up. And that move could last for quite a time if the market start to going back into ungly mode (watch OIL, Indexes and China). AUDJPY is a good pair to trade (since both pair are strongly inverse correlated). A bearish breakout happended. Wait for retracement then go short.

jbourgault

The EURCAD pair look like ready to move up.. There is a major trend line on the monthly chart that could act as a serious resistance (including previous highs).

jbourgault

GBPJPY might have be done consolidating (corrective wave 2). Watch for a breakout then go long for wave 3. For the next 2 weeks, stability in the market could come back with could lead to a more risk-on mood. However, brexit is still in the picture which could complicate things with GBP pairs. In that regard, a breakeven stop will be put in place when top of wave...

jbourgault

XEG buy when correction to the 0.382 fib level is over

jbourgault

At the end of February, the pair bounced almost perfectly on the 0.5 fib retracement level of the 2012-2014 huge bull run. II'll be using shorter timeframe to enter and exit at proper level. The thing is to keep in mind that this pair might be a good candidate to ride the JPY correcting.

jbourgault

AUD is going up right now (amid risk on mood). Wait for ABC correction to complete. Also, check if the bottom of that pair correlates with SPX reaching 2060, OIL 40.20 and USDOLLAR ~11880. That could be a turning point at the start of next week. Limit Buy @ 1.4619 Stop loss @ 1.4585 Target #1 : TBD... 1.5 extension? Target #2 : TBD... 1.618 extension?

jbourgault

Given the last FOMC statement that was received as dovish, we might see the current risk mood continue to develop a little. However, OIL might go in correction soon which should lead the market down again. Regarding AUDJPY, the last wave 0.5 fib level is perfectly matching the higher degree wave 0.382 fib level. I'll would wait for an ABC correction to unfold...

jbourgault

PLI... wait and go long @ 2.90, 2.50 and 2.34

jbourgault

Since the last ECB conference, it seems like the EUR just started a major recovery against risk-on currency like AUD, NZD and CAD. Regarding the EURNZD, we might be just at the start of a long term wave 3 which would correlate with a deep worldwide risk-averse mood given low OIL price, issue with China and the US Fed hicking rates.

jbourgault

After last week EUR explosion, a follow through is to be expected. And EURAUD seems to be a very good candidate (especially given the AUD bulls are giving signs of exhausion). The pair retracement to the 0.613 fib level is now complete. Target #1 : 1.5343 (fib ext 1.414) Target #2 : 1.5469 (fib ext 1.618) Stop loss : 1.469