NZDUSD Analysis

NZDUSD 4HR

NZDUSD is in a strong downtrend and is currently in wave 4 of a 5 wave down move. The market is currently at the 382 retracement level of wave (iii) and should rise into the key resistance price zone of 0.7226-0.7272 before falling. 0.7272 represents the monthly pivot and is a key resistance level.

Prices are expected to rally to around 0.7226-0.7272 before falling

NZDUSD 1HR

The NZDUSD on the verge of completing a bearish gartley butterfly pattern ahead of  the RBNZ interest rate decision later today 

USDCHF Analysis

USDCHF 1HR

The USDCHF has completed a 5 wave up move and is expected to fall to 0.9310 (blue line) which represents the 50% Fibonacci retracement level of the total up move. Prices may retest the 0.9456-0.9468 price zone to test for demand, 0.9456 is also the daily pivot, hence this is a key price zone to watch. Prices are expected to fall however a solid close above 0.9468 may result in higher prices and a subsequent retest of the highs.

AUDUSD Analysis

AUDUSD 4HR

The AUDUSD is set to complete a Gartley butterfly pattern. Expecting prices to rally to around 0.7907 - 0.7928, the 0.7907 level represents the 1.41 extension of the XA leg and 0.7928 represents the 2.24 extension of the BC leg. 0.7907-0.7928 is a strong potential reversal area and key areas to watch for price action and high volume.

EURAUD Analysis

 

EURAUD 4HR

Expecting the EURAUD to fall and retest the lows. The EURAUD as rallied as expected to the 50% retracement level. It has also completed a gartley butterfly pattern and a double zigzag pattern. Prices should fall with the first major support being 1.4407.

 

EURAUD 1HR

GBPUSD Analysis

GBPUSD 4HR

The GBPUSD is in a strong down trend on the 4hr and should continue lower. Prices are also consolidating within a triangle pattern and are expected to breakout downward completing the 5th wave. If prices successfully break downward, prices are expected to fall to around 1.4886 (brown line). However if prices breakout to the north prices can rally to as far as 1.5332(blue line) before finding resistance.

GBPUSD

GBPUSD 1HR

The GBPUSD as broken out of a triangle pattern and looks set to complete a Gartley harmonic pattern formation. Expecting the GBPUSD to fall to around 1.550-1.549 before rising. 1.550 marks the 1.41 extension of the XA leg and 1.549 marks the 2.24 extension of the BC leg.

 

AUDUSD

 

AUDUSD 1Hr

The AUDUSD is in a strong downtrend making lower lows and lower highs. Prices should however rally to around 0.8667which represents the 38.2 retracement of wave (III). Another important level to watch is 0.868 which represents the 61.8 retracement of the latest down swing. Expecting the AUDUSD to retest the lows after rallying to around 0.8667- 0.868 price level.