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As Gold goes down, XXXJPY goes up. Here in EURJPY, we see a clear break of structure on the 1H and a retest around the 50% level, inline with the previous resistance.
Heads and shoulders on the bigger picture. Price broke out of the channel and retested it, forming a rising wedge. Price also broke this wedge so I'm expecting Gold to reach the base of that wedge. The next target will be the base of the channel.
Expecting a pullback on EURUSD on the Daily after completing its D legs on the -27% fibonacci retracement. I was expecting a reversal around this level and on the lower time frame, it broke structure and is now forming a reverse heads and shoulders.
Expecting EURJPY to go bullish. On the larger time frame (DAILY), price made a massive push down lower, so now I'm expecting a retracement on this pair. On the lower time frame, I see a 4H reverse heads and shoulders. I expect price to reverse at this level and come up and tap the 50%-61.8% zone of the Daily retracement.
Going long on EURUSD, expecting price to push up all the way to the level of 1.1400. Stops will be placed a couple pips below the previous swing point, with a 50 pip stop loss. This trade may take several days or weeks.