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.

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.