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USDCAD – 4th Wave

USDCAD – Dollar/Canadian Dollar We can see clearly a nice decline down and UsdCad is now busy with the 4th wave. Notice how the 4th wave is overlapping and slow (correction).  4 th Wave usually turns between 38.2 and 50% Fibonacci retracement levels Invalidation level comes in at 1.3440 Sell UsdCad between 1.3360 and 1.3386, […]
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EURUSD – Why you shouldn’t sell EurUsd at current levels

EURUSD – Euro/Dollar Here is a detail analysis on EurUsd, lets start with the weekly view Weekly Analysis: On the Weekly chart, EurUsd is trading in a large Descending channel (bullish implication).  But only completed 4 waves within the bigger wave C. We should see one more low to complete the wave 5 (final wave), […]
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NZDUSD – Waiting for the next Impulse Wave

NZDUSD – Kiwi/Dollar As discussed in the weekly forecast, we remain bearish on NzdUsd and we might get a entry today with all the news going on… We would like to get short closer to the 38.2% retracement level 0.7020, with a first target at 0.6800. Wave 4 usually forms between 38.2% and 50% retracement […]
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GBPCAD – Descending Channel

GBPCAD – Pound/Canadian Dollar We just love trading channels…  See our cheat sheet here, how to trade channels We are bullish on the Gbp, and GbpCad looks like it want to break that Descending channel resistance to complete wave C. Wave C first target will be 1.8000 (minimum target) and invalidation level comes in at […]
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AUDUSD – Bearish Cypher Pattern

AUDUSD – Aussie/Dollar AudUsd busy carving out another Cypher Pattern.  Remember the Cypher pattern a few weeks back? (see last chart) See below the daily Cypher pattern, which worked out very well. Now the 4 hourly chart confirming another smaller Cypher pattern.  See our rules of Engagement for the Cypher Pattern here… So far text […]
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GBPUSD – Complex Correction Complete

GBPUSD – Pound/Dollar As discussed in the weekly forecast, were looking for one last low in GbpUsd below 1.2200. GbpUsd is trading near 1.2160 area within wave 5 drop from 1.2570 which can be coming to an end.  There might be still room for one more leg down before a very strong move to the […]
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GBPAUD – Bullish Bat

GBPAUD – Pound/Aussie GbpAud busy carving out a bullish bat on the 1 hourly chart.  And we are looking for buying opportunities in GbpUsd and selling opportunities in AudUsd. See our rules of engagement for the Bat pattern here… Long GbpAud 1.6050, stop loss 1.5980 and first take profit level is at 1.6200
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AUDUSD – Bearish Structure

AUDUSD – Aussie/Dollar As discussed in the weekly forecast, AudUsd busy completing wave 4 of the bigger wave 3. On the 1 hourly chart, we can clearly see a Ascending channel (bearish implication).  See our cheat sheet here on Channels Short AudUsd at 0.7620, with invalidation at 0.7680 (4 hourly closing basis) and first take […]
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CADJPY – Strong move coming

CADJPY – Canadian Dollar/Yen CADJPY has turned nicely up this week from 84.20; clearly in five waves so we believe that bullish trend is back. As such, we will expect a strong rise on this pair after any A-B-C retracement. Recently we have seen a leg down 85.05, but is only wave A, and wave […]