Currently trading a EUR/AUD 3 drivers pattern to the downside. Taken a small profit and covered the upside to Break even. Mid term target to around 1.4500
AUD/GBP Looks like it wants to push higher. Will look for ABCD extensions and and wait for levels against the USD, and possible confirmations. Swing point 9160 level with some resistance on the monthly around 1.9000 level. {image}
Ignored
Hit the 1.9000 level today into strong monthly levels and the completion of the pattern.
Had been waiting for 7750 area on the NZD/USD for a longer term entry to the downside. Got that today with a hit and nice price action on the smaller time frame. Have moved positions to break even. Looking for first profit at retest of the weekly low.
Entered some long positions against the Yen 118.450. Taken some profit and expecting a run back between 121- 122 but could be a trend changer to the downside for the mid term.
With 2 ABCD extension on the AUD/USD, Longer term weekly and shorter term daily we may be edging to a pullback. Longterm view may be to test 79, 80 but extension suggest bus may not have stopped but slowing. I have 1 long trade left on this pair but watching closely for signs of pullback. I think it will see the year out between 82 - 83.
EUR and GBP also reaching extensions in the Aussies. GBP at key level of 1.900 and EUR key level 1.500. Fundamental story has not been great but I think the market has priced a lot in now for time being.
Had been waiting for 7750 area on the NZD/USD for a longer term entry to the downside. Got that today with a hit and nice price action on the smaller time frame. Have moved positions to break even. Looking for first profit at retest of the weekly low. 4hr and Monthly chart. {image} {image}
Weekly ABCD extension. Showings signs of stalling and possible Head and Shoulders pattern setting up on the lower time frame. Possibility to slip through support area to 92.7 area. Taking a long with stop set below low.
