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Good morning everyine, here is today's EURUSD and NZDJPY analysis:

Particularly last couple of days, and the last week EURUSD was not good to trade due to low ATR and low profit potential. As we could see it was better to trade GBPCHF, USDCAD, USDHF (READ IT HERE) and NZDUSD which has hit the targets ( READ IT HERE, discard the typos). From this perspective EURUSD is having giant M pattern on H4 which signals the battle between bulls and bears and so far 3735 as we can see has been a great resistance and it might turn out that that could be good point to short into. We also have a minor trendline which is making a confluence up there. If EURUSD drops below 3690 that will be a sign for a continuation to 3665 and 3620 respectively. Only a close and retest above 3735 will aim for 3760 and 3785 respectively. Today is profit taking day so be careful.



The other pair which is interesting to me is NZDJPY which shows us signs of a possible continuation if 85.75 is broken and retested to 86.20-65. On that pair we can see head and shoulders pattern and a quadruple top so if it breaks it should be a continuation. The trendline and quadruple top are also forming ascending triangle which is a sign of upward continuation. If this setup doesnt play out today, we might get it on Monday as today is Friday. Pay attention to this one.

EURUSD broke through 3735 hitting 3810, even more then projected 3785 target. NZDJPY trying to break 85.75.

AUDCHF is in nice downtrend. POC of 2 fib swings, L4 which hasn't been retested and trendline are making a confluence at 0.7925-30. That zone could provide shorting opportunities.

I'm more interested in gold this days
my view we will see nice drop next few months ,I wait 1118
now it's 1325

let's c how it goes
wish happy weekend to all dear friend
cya

Hi Egkid,

how are you? Hope all is well. Long time no see no hear :-(

What is cooking?


I see actually three scenarios for Gold:

a) we are in a broader wave 4 triangle. Now in wave C up

b) we are in wave C up of an ABC flat. This ABC-flat is wave 4 up

c) we are in wave 4 of an ending diagonal wave 5


I do like a) and b) more, because they would give more room for Gold to fall much deeper thereafter.

With version c) we should only see limited downside, maybe 1100-max 1000

whereas a) and b) would open the door for a Gold typical elongated wave 5.

Let us wait and see


any views for EU?

re EUUD and only my opnion... I am short based on day USDX.. trying to post chart wont do will try later..enter point 3786

Hey guys, thanks for a good contribution. Today is Monday, it will be easier for me to analyze on Session Recap webinar today as NY will also be in trade. Now as the price suggests , I can see that 3750-66 is the zone for long trades as we have multiple confluence. One swing 3766-3793 has already been completed and the pair is retracing. The problem is that below 3750 EUR could have a deeper retracement to 3730 and if broken it might drop to 3670. IF EUR gets rejected above 3800 targets are 3825 and if broken 3875.

24.02.2014. SESSION RECAP PIP COUNT
GBPCAD -50 SL hit
EURUSD hit 3763 initially its +23 now (3753)
AUDUSD +20
GBPUSD +30 after a drop from 6725 for those who entered at 6675
GBPJPY +55 total

TOTAL:75 pip potential

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I am still waiting for GBPCHF setup at POC 4770-75. There is a strong confluence around the zone and the price might drop to 4900. Use trailing stop once you are in the trade. SL should be around 4805.

On AUDUSD we have 2 possible selling zones POC 1 which comes around 8025 and POC 2 whcih comes around 8850. Target should be 8890-70 and stops should be around 8975. Id personally like to see a PB to POC 2 but 8925 may also reject the price.

closed my short possie in EUUD.. looking to go long..picture of USDX 1 hr looking for it to be toppish at rectangle area..

picture of EUUD.. 1 hr long this pretty much at current low.. position mainly based on USDX chart.. fingers crossed

out 35 clear.. will look to enter long side later ..euud picture 4 hr

Well done Danc!

On USDCAD we had a nice sell yesterday but the price has been stuck in a triangle so only the break of M pattern will give us the continuation to the downside. I dont like when price is stuck so long so if the price breaks through H4 it might go further up as we have an older trednline cutting through H4. So I suggest either using trailing stop or closing the trade ( from yesterday's webinar )

GBPNZD looks like it might get rejected off 9940-9950 if we get there. We have a trendline, double fib and H3 confluence there while higher TFs support downtrend. Target should be 9865 but ofcourse I advise using trailing stop as this is a fast moving pair. I am paying attention to POC and this pair.

Open short 1,4770

thx for advice T

Hope you managed the trade. The price has been rejected 2 times off 4770-75 to 4750 couple of times and when i see that I usually put trailing stop. GBPUSD news in 30 mins will either spike the price up or again down.

EURUSD has dropped influenced by Ukraine situation. Now we have 3725-20 as important level but also around that level we can see buying strength. You must be careful with trading EURUSD as the pair might still be in a range and it is very dependent on current geopolitical situation. There are multiple resistance above 3740 namely 3747 being DPP and 3759 H3 level. Now we can see if EUR breaks 3759 it might form W pattern which could lead EUR to 3775-85 before 3805.
If eur drops below 3720 it will try to test 3700-3685.

MACD is currently flat and there is no sign of divergence.

Market has been very slow. Obviously Ukraine crisis leads the market + pending NFP on Friday.