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.

EURUSD

EURUSD 1Hr
The EURUSD pushed above 1.2700 after FOMC minutes release and is now trading at around 1.2730. Expecting the EURUSD to fall after rallying to around 1.278 completing the formation of a bearish Gartley harmonic pattern. The 1.278 price level represents a 1.41 extention of the XA leg and a 2.24 extention of the BC leg. 1.2785 is also the monthly pivot making it a strong potential turning point and a key resistance level.

EURJPY,CHFJPY

EURJPY 4Hr

The EURJPY is in a nice downtrend on the 4hr chart, and looks set to go lower. The pair has completed a 4 wave down move and should fall to around 136.22 and 135.92 in completion of wave 5

CHFJPY 4Hr

The CHFJPY is also in a nice downtrend on the 4 hr and is expected to drop to around 112.29 in completion of the 5 wave down move  

USDCAD

USDCAD 4Hr

The USDCAD expected to rise to around 1.1184 before retesting 1.1097, prices may however fall as far as 1.1027.

 USDCAD 1Hr

USDCAD is at the possible end of a 5 wave rally which may result in prices falling to as far as 1.1027 (brown line) which represents a 50% retracement of the total up move.

USDCAD, AUDCAD, EURJPY

USDCAD 4Hr

The USDCAD has risen to as far as 1.1058 and may rally to 1.1072 which represents the 1.41 extension of the largest downswing, before retesting the 1.099 price level. 

AUDCAD 1Hr

AUDCAD is in the middle of a triangle pattern, prices are expected to go lower. The 1.000 level is a key psychological level to watch, a strong close below this level would indicate that the bears are still in control and that lower prices are to be expected.

EURJPY 1Hr

The EURJPY is in a strong up trend on the hourly chart. 138.84 represents the level at which the length of wave [I] is equivalent to the length of wave [IV] and is a key price level to watch. Prices should retest 138.27 to test for selling pressure. A strong high volume close below 138.27 may result in prices falling to as far as 137.26 before finding strong support.

USDCAD

USDCAD 1Hr

USDCAD is showing signs of accumulation, there is signs of what might be aggressive buying,  from the high volume downthrust as prices went below 1.0827 (false break). This buying can be confirmed if prices close above 1.0893, however if prices close below 1.0827 expect lower prices.

USDCAD 4Hr

The blue line represents 50% retracement of prices from the July low to the August high and from the RSI you can see that there is a decrease in selling pressure, another reason to expect higher prices.

USDCAD Daily

You can also observed what looks like a bullish Head and Shoulder reversal pattern in formation, where the right shoulder comes in line with the left shoulder at 1.0809 (blue line), if this pattern holds the bullish trend is expected to continue.

USDJPY

USDJPY 4Hr

The USDJPY has formed a bearish gartley butterfly pattern. It has completed the 1.618 extention of wave B and a decrease in upward momentum can also be observed as their is RSI divergence. Prices are expected to fall, an important level to watch is 103.82 as a solid close below this level would indicate that the bears are gaining control and the next levels to watch would be 103.45 (weekly pivot) and 102.9.