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 .
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
Pair Name : XAUUSD (GOLD)
TimeFrame : 4Hrs
Direction : Short
Type : Swing
Target Range : 500 Pips
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GBPUSD has formed a bullish triangular pattern.
Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter...
EURUSD has taken a support near 1.1700 zone a 78% fibonacci zone of the previous rise. As per the current structure one should go long near 1.17300 keeping SL of 1.17000 and look for the upside target of 1.19300 in upcoming days.
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
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
Pair Name : GBPCHF
TimeFrame : 4Hrs
Direction : Short
Type : Swing
Target Range : 180 Pips
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EURAUD Currently Trading in 4H TF Parallel Channel , Either Wait for Channel Break or Trade within the channel or wait for the channel breakout for Long or Short Position Accordingly.
GBPJPY has been respecting an upward trend for quite a long time. Now it has reached a major resistance and formed head and shoulders, which confirms the fall has to come.
This is the setup of the previous video on GBPJPY.
Forex Swing Trade-
CADJPY-4H-TF
Limit Sell@87.514
SL-87.720
Target-87.560
RR-4.6
A strong upper trendline in play since many sessions is once again being approached!
CADJPY is also facing a bearish divergence along so sellers may be coming soon,
thus a short can be taken at rejection from the trendline!
GBPJPY has been on an upward trend channel for quite long time. It has approached a major resistance level now and has completely formed a head and shoulders at the resistance. It may fall a little, but the trend is still bullish. Let's see if the bullish run will end or not.
A detailed technical analysis of NZDUSD (didn't use advanced technical tools). NZUSD is currently near a major resistance line, forming a double top near it, a double confirmation for its fall. But if it breaks the resistance, it may become a major support line. On the daily timeframe, NZDUSD gave a nice pullback, confirming its fall.
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
