Going into this week, we could see GBPJPY drive into the last low indicated on the chart. I believe we will reject from the area shown on the chart
*This is an IDEA only!*
***First and foremost, please understand that this is NOT financial advice. It is only my analysis as to what I think MAY happen.***
On the chart, I have outlined an area where BTC may fall and reject (Highlighted Zone).
The blue line is where I think price will draw towards in the short-term.
Price could fall to the level indicated and potentially provide a bullish continuation setup to 34.000 and beyond.
This short term retracement could be seen if we see a fall in BTC.
If DXY trends upwards this week to fill in the wick it formed on the Weekly TF, we could possible see EURUSD move in the way indicated on the chart. The 0.5 standard deviation lies perfectly into my target zone.
Let's see what happens...
After a swift pullback on the 21st, the Daily chart created a pinbar with a massive wick that was filled today (22nd).
Price as you can see has moved into my zone, which lines up perfectly with the 0.79 fibonacci retracement that you can pull on the 1 or 4hr chart. I believe that with bearishness on the DXY, EURUSD could trade higher, targeting the buyside...
I believe price will gravitate upwards, towards the buyside liquidity resting above the equal highs shown on the chart.
There should be further confluence on this idea, if the DXY continues to move lower.
AUDUSD has rejected the 0.69800 institutional level and has been playing around and testing 0.69500. It has approached the Daily 0.62 fibonacci retracement and I believe it will rollover to atleast the 0.67000 level. This has the potential to drop lower though but lets see.
After positive NFP data, and the DXY indicating bullishness (see my page for DXY analysis), I am anticipating a pullback
then a drop to the equal lows 100+ pips below.
After an insane rally the past 2 days, GJ is showing signs of rejection and holding the 133.800 level as resistance. It also confluences with a 0.79 4hr Fibonacci retracement.
I am anticipating this to fall below the equal lows made yesterday atleast.
As seen on the chart, there is no doubt we are in a clear uptrend.
Furthermore, after the gap fill, we have retraced and beautifully bounced off the 0.79 fibonacci retracement. After a rejection of 1.3500 last week, I personally do not think this will drop further. I am targeting the equal highs formed around 1.4200 and beyond.
For further confluence, the DXY is...
USDCAD has been consolidating for the past couple of days, but after a bullish movement yesterday, I believe this has the potential to climb further, atleast taking out yesterday's high and possibly beyond!
If you take a look at the Daily chart, there has been numerous attempts to breach the 0.94000 level, but all have failed and rejected this price. Furthermore, the dotted line delineates swing points, where we are currently in a retracement. My short zone lines up perfectly with key fibonacci retracements.
I predict this pair will be bearish from my zone, and...
