USD/CHF Long-Term Trend: Bullish Key Resistance Levels: 0.92600, 0.92719, 0.92783 Key Support Levels: 0.92242, 0.92168, 0.92118 4-Hour Chart: Looks like we have a nice bullish channel built up, and if price respects the structure, we may get another bounce and bullish continuation. Additionally, we have an Elliot wave count suggesting we are playing a 3rd wave that should take us …
Read More »Patrick Mwenge
USD/CAD| Possible Long-term bullish reversal
USD/CAD Long-Term Trend: Bullish Key Resistance Levels: 1.26943, 1.27263, 1.27717 Key Support Levels: 1.26430, 1.26245, 1.26061 1-Day Chart: We have been trading downwards since December 20th, but it looks like we may be visiting a strong support zone, which may result in sideways movement and possibly some move to the upside as the down trend comes to an end. USD/CAD …
Read More »CAD/JPY| Bearish consolidation play
CAD/JPY Long-Term Trend: Bearish Key Resistance Levels: 91.218, 91.354, 91.710 Key Support Levels: 90.295, 89.918, 89.490 1-Day Chart: We have failed to breach the resistance zone, and may now finally see a pullback. We also happen to be inside somewhat of a wedge structure which presents good support levels to trade towards if we do break to the downside. CAD/JPY …
Read More »EUR/AUD| Potential short term bullish play
EUR/AUD Long-Term Trend: Bearish Key Resistance Levels: 1.58525, 1.58796, 1.59009 Key Support Levels: 1.57468, 1.57175, 1.56883 4-Hour Chart: EURAUD seems to be facing massive resistance off of the resistance trend line. If this holds, we can expect more downside. However, we have traded down to a support area, and may now see a push to test the trend line and …
Read More »USD/CAD| Potential bullish continuation
USD/CAD Long-Term Trend: Bullish Key Resistance Levels: 1.27914, 1.28327, 1.29029 Key Support Levels: 1.26935, 1.26682, 1.26400 4-Hour Chart: Since the low on December 31st, we have seen some bullish momentum build, which subsided when met with the resistance zone. Thereafter, we got a pullback which is currently finding support in the 50-61.8% retracement area. If this holds, we may see …
Read More »EUR/USD| Long-term Bullish continuation
EUR/USD Long-Term Trend: Bullish Key Resistance Levels: 1.13413, 1.13518, 1.13602 Key Support Levels: 1.13090, 1.13023, 1.12860 4-Hour Chart: We made an attempt at breaking out of the long term wedge but failed and fell back inside of the wedge. However, since then we have again tested the resistance line and failed again, but the market still looks determined to push …
Read More »CAD/JPY | Potential cycle completion pullback
CAD/JPY Long-Term Trend: Bearish Key Resistance Levels: 91.387, 91.537, 91.710 Key Support Levels: 90.295, 89.822, 89.482 1-Day Chart: Elliot wave suggests we have had a 5-wave bullish impulse, meaning a pullback is due any moment now. If so, we may see a swing play down to the lower support zone, which represent a 50-61.8% retracement of the entire bullish impulse. …
Read More »EUR/USD | Short term pullback
EUR/USD Long-Term Trend: Bullish Key Resistance Levels: 1.13126, 1.13235, 1.13309 Key Support Levels: 1.12798, 1.12714, 1.12581 4-Hour Chart: Long term, we are currently trading in a rising wedge. Within this wedge, we look to be chasing for support and the trend line below looks attractive for a bounce. Additionally, we have an Elliot wave count signalling a possible decline for …
Read More »NZD/CAD | Potential Bullish Reversal
NZD/CAD Long-Term Trend: Bullish Key Resistance Levels: 0.86629, 0.86850, 0.87044 Key Support Levels: 0.86484, 0.86302, 0.86195 4-Hour Chart: We have seen a completed bullish cycle, followed by a big correction taking out 61.8% of the entire bullish move. If current support holds and we maintain sideways direction , we may see a recovery on NZDCAD as it tries to retest …
Read More »CAD/JPY | Potential short term bullish exhaustion
CAD/JPY Long-Term Trend: Bearish Key Resistance Levels: 91.002, 91.463, 91.710 Key Support Levels: 90.354, 89.458, 89.458 Daily Chart: The price on a higher timeframe is approaching a potential exhaustion zone, whilst simultaneously illustrating what may be a completed Elliot wave cycle. If the price fails to settle above the 91.4 area, we may see a big pullback out of this …
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