On Daily Chart , It is a strong support zone , Market is overloaded with buyers now its time to see sellers on dominant side.
Prices are moving up in an impulsive manner. One should buy on cmp or any dips, keeping SL of 114 look for the tgt of 117
According to elliott wave rule , in an impulse wave 4 cannot intervene into the the territory of the wave 1 . The current structure shows that USDCAD is forming a wave 4 & is likely to end soon. One should go short on any rise keeping SL of 1.2595 & look for the target of 1.2285 and 1.20500 and below.
Usdjpy is unfolding in a complex corrective structure as a double zigzag. One should sell on rise near 113.6-113.7 keeping SL of 114.05 for tgt of 112.9 .
After falling near the level of 0.74800 AUDUSD has found its bottom near the level of 0.717000. If we observe carefully we can see an inverse Head & Shoulder pattern whose neckline has been broken decisively in today's session. From the perspective of Elliottwave analysis , we can see a Leading Diagonal & a three wave correction followed by a rally above the...
ENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat. After the termination of the ending diagonal...
The current structure looks like an ending diagonal which suggests that there should be a pullback to the origin of the diagonal. One shold go long on current levels with SL of 1.259 for tgt of 1.269/ 1.271
We can see a clear 5 wave structure on upside. This suggests that there should be a three a wave downside correction . One should go short on any bounce with SL of 152.6 for tgt of 151- 150.8 zone .
On monthly basis, USDINR is in uptrend. Go long Keep SL of 72.5, once closes above 75.75...next target 78-79
AUDNZD in monthly demand zone .take further analysis take entry after the trend reversal or else enter with trail stoploos bcoz monthly demad zone in the major support .It is in channel pattern for the past few years .jusy my view
USDCAD : An impulsive fall from the level of 1.2950 & an expanded flat formation in abc pattern peaked at 1.2896 suggests that USDCAD is ready to continue its long term bearish trend . One should go short with SL of 1.2896 for the tgt of 1.2400 / 1.2250 and 1.2000
The current price action clearly suggests that AUDUSD is rising updward in an impulsive manner & just finished it 4th wave. one should buy on cmp with SL of 0.73600. & look for the tgt of 0.7500 / 0.75500 as a wave 5.
USDCAD : An impulsive fall from the level of 1.2950 & an expanded flat formation in abc pattern peaked at 1.2760 suggests that USDCAD is ready to continue its long term bearish trend . One should go short with SL of 1.27650 for the tgt of 1.2400 / 1.2250 and 1.2000
After an impulsive move AUDUSD should head south for a three wave correction. Keeping a SL of 0.72810 one should sell the currency pair for tgt of 0.72000
An impulsive move of 5 waves up & a 3 wave correction, suggests that GBPJPY is ready for another impulsive wave as a wave 3 . one should buy the pair on current levels with SL of 153 for tgt of 155.2
Sell with SL of1.41850 for target of 1.40200
GBPINR form cup and handle formation in 1 hr chart. As shown in the chart if it breaks the horizontal line it may erupt from there.