200MA

Hello again everybody,

We started the London session today with a look at the Yen pairs, which are all close to confirming bearish setups mid-term – by the time of this writing there has not been a clear breach of the support lines yet.

EURUSD reached up to 1.4862 and seems to be losing momentum, our analysis shows the possibility of a retracement back to 1.4780 and lower based on the wide range we can observe on the daily charts.

GBPUSD confirmed a bullish mid-term outlook and completed a bullish EW on hourly charts, which is why we are bearish on it down to 1.9560 (200MA on 1h and 38.2 fib of the entire wave up) but bullish starting with that level, as a larger formation is possibly starting to unfold towards 2.0200 during the following weeks.

Have a great weekend!

Hi everybody! We started our late session today with a look at USDJPY, which seems for the moment trapped in a 4h triangle threatening to break anytime now – bias remains to the upside as a larger retracement wave up in this pair seems possible on the daily charts.

On EURUSD and GBPUSD we were looking for possible breakout points both ways just before the NY open, with EURUSD confirming breakout above 1.4555 or below 1.4490 (at the time of this writing EUR has already broken the upper trendline and is now facing resistance at 1.4620 with further room to go up) and GBPUSD breaking a nice upward channel on 1h just above 1.9560 (later found resistance at the 1h 200MA at 1.9625.

USDCAD was displaying a bearish setup just below 0.9950 that finally failed, EURCHF looked bullish at the time while EURJPY and GBPJPY seemed to continue the upward large retracement targeting 157.16 and 210.20 respectively (both targets almost met at this time).

Looking forward to meet you all tomorrow in the LTR for more setups, trades and market action.