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descending triangle CADCHF 1H
We've got our orders set up to trade this potential breakout of the descending triangle in the CADCHF, the projected target is around the 0.8323 level.

EURAUD buying zone

We're following the EURAUD on the 1H chart, the trend and momentum are clearly bullish, and we're looking to buy the pair at a correction into a point of confluence between the ascending trend-line, the 50% fib of the up move, and the horizontal support and resistance area. Our stop will be just below this point of confluence, and our target is at a minimum the recent swing high.

EURJPY simple price action trading plan

The EURJPY looks to be heading towards our well defined role reversal level at around 148.165, this level also coincides with the 50% measurement of the overall down move. Therefore, we're looking for some candlestick reversal confirmation at our level, after which we'd be short the market, aiming to get back to recent swing lows around the 146.800 handle.

EURUSD supply and demand zones

The EURUSD has broken the long-term trend-line on the 4H chart. Therefore, we're no longer in a clearly defined bear trend. That being said, we have a good selling area which is a point of confluence between a support and resistance zone and the 50% retrace of the overall down-move. Therefore, we'd be looking to short the pair at the supply zone, however, given the trend-line break we're not looking for a longer term stop trailing play, rather, we'd look to take profit at the demand zone which begun the move. At that point if we'll get some supportive signals we may opt to reverse the position and go long.

SHORTING ZONES AND A BIG BULLISH W PATTERN

Taking a look at the GBP/CAD 4H chart, we can see we're currently trading at an important support&resistance level, we do expect some reaction here, so taking a shorter term short is appropriate. In the longer perspective, the next major resistance is around the 1.8500 handle, which would also complete a long-term W pattern. Some reaction there is very likely as well, however, if the pair ends up breaking the big W, this could signal a major bull trend possibility.

EUR/AUD BUYING ZONE
The EUR/AUD has recently broken a tight range to the upside on the 30M chart. The overall market structure is an ascending channel. We are therefore looking for a pullback back to the range resistance level, which should coincide with the ascending trend-line of the channel. An RSI reading of around 40 would further confirm our trading idea.

USD/JPY shorting area

The USD/JPY is continuing its decline on the 4H chart. The pair does look fairly oversold at this point, and has also near completed an ABCD pattern on the back of a 50% retrace. Therefore, we expect the pair to bounce back a little, and we're waiting for it at the important role reversal level around 117.427. At that point, any sign of bullish exhaustion or new bearish firepower will trigger us short.

EUR/USD PRICE ACTION TRADING

The EUR/USD 30M chart is in the midst of another impulsive bear wave. Looking at the overall price action structure, we can identify that the sellers are currently in control of this market. Given this, we want to see a correction back to the important 1.24760 level, at which point we'd short the market in the hopes of catching the next impulsive bearish wave downwards.

GBP/JPY GOING WITH THE FLOW OF THE MARKET

The GBP/JPY is trading below the kumo, is using the kijun sen as resistance, is trading in a descending channel structure with an RSI reading of sub 50. We're looking to trade with this clear market direction, and our desirable entry will be the breakdown of the corrective ascending line. The RSI 50 line should also stem the bulls if this scenario does unfold.

USD Strength Analysis

The dollar index is trading at a potential support area, while trading on the right side of the kumo cloud and kijun vs the other currencies; if we do get some dollar strength, we need to decide which currency it would best to match it up against. Looking at all the daily charts, the best candidate right now looks to be the NZD/USD, the pair is trading at kijun+kumo resistance, and is looking to potentially form a bearish engulfing pattern.

GBP/CAD PRICE ACTION ANALYSIS

The GBP/CAD 1H chart is trading in a well defined bullish environment. we have had a nice 1-2-3 bullish pattern, and now we're looking for our next 3 point. Current price action has formed a wedge formation, and if that breaks to the upside it would send us long. The key point in this kind of trade is to discard it as soon as the initial point 2 is broken, in this case, our line in the sand is thus: 1.82300. As long as price trades above this level, we're bullish on the pair and we'll be looking for some price action to send us long in the hopes of getting a bullish impulse back to the (2) point.

AUD/CHF SHORTING ZONE

The AUD/CHF 1H chart is trading in a descending channel. The pair is currently making its way up, and we're interested sellers at a point of confluence between the descending channel line, the 50% fib retrace of the latest down move and a possible stochastic cross back from overbought.

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GBP/NZD Building up Bull potential

The GBP/NZD 4H chart is trading sideways for the most part. However, if we examine price action more closely, we see a recurring theme of sellers attempting to push the market down and getting rejected, with a series of long wicks on the bottom of the candles. This coupled with the fact that buyers are making slightly higher highs each time, indicates to us that buyers may soon gain control of this market and break higher. We're looking at the ascending trend-line as our line in the sand for the bulls, so long as the line holds without a close below it, we favour the upside.

EUR/AUD Head & Shoulders
The EUR/AUD 30M chart has completed a bearish head & shoulders pattern. We're looking for a pullback back to the neckline to serve as resistance, at which point we'd be interested in shorting the pair.

NZD/JPY Bearish Bat Pattern

The NZD/JPY is on its way on the 1H chart to form a bearish bat pattern. The current bull rally is already showing some signs of exhaustion in candlestick terms, so we'd be looking for some technical formation to allow us to short the market at some completion of the pattern.

EUR/GBP BUYING AREA

The EUR/GBP is falling on the 1H chart. We're waiting for the pair to show some bearish exhaustion at the signified 0.78510 demand level. The deeply oversold readings on the RSI and slow stochastic gives some more merit for some bulls to push the pair back a little, our target will be the 0.79000 handle.

GBP/CAD Bearish Kumo Breakout+Flag Continuation Pattern

The GBP/CAD has recently broken down the kumo cloud during an impulsive bearish move. The pair is currently consolidating in what seems like a flag pattern. We're looking to trade with the flow and direction of the market, thus we're short the pair, aiming towards the projected breakdown of the flag.

NZD/JPY Flag Breakout

The NZD/JPY has broken out to the upside from a flag continuation pattern on the 4H chart. We're interested buyers, and we'll be looking for a slight pullback into support for our entry. The general idea of the trade is to follow the flow of the market and trend, so we plan to trail stops while heading higher.

Oil at an interesting point

Oil is trading in an interesting way on the 1H chart. It's sitting at a point of equilibrium between buyers and sellers, as indicated by both RSI and Slow-Stochastic readings of around 50. Looking at the overall market structure, we can see oil had a highly impulsive move downwards, but has since been consolidating in a wedge type formation. The interesting aspect of this wedge is that if we take a close look, we'll see the bullish candles are fewer, yet carry a heavier punch to them. That is interesting to us, this kind of situation may convey to us that oil is possibly basing. Therefore, we're currently neutral on oil, we no longer have a big bearish bias, and we're awaiting future price action to get some indication of where this market is looking to head.