Hello Traders, I’m a pro with 7+ years of experience in the market. I want to help out retail traders. So, here I post some of my long-term and short-term setups and crisp points of the reasoning and my conclusion. Hope it benefits you. EUR/CAD Technical Analysis ~~ The counter has been formed a long base formation. ~~ Further, it could be interpreted as a correction after a strong impulse move. ~~ It has crossed the critical resistance level of 1.55279 and is consolidating above it. ~~ And the MACD indicator has turned bullish and is having good momentum.
USD/JPY Technical Analysis ~~ The counter is currently at the strong support of a trendline, which could be contemplated as triangle pattern. ~~ According to the short-term waves, the counter has completed wave B of a bear cycle and is due for a wave C. ~~ Hence, we expect the pair to be bullish and head to higher to levels.
AUD/NZD Wave Analysis The counter is currently in a long-term bear cycle. It is currently in its second leg of wave B. Further, it resembles a flag formation and is coming down after hitting the upper parallel. Hence, we expect the pair to be bearish and move to the lower parallel from here.
EUR/USD Technical Analysis ~~ The counter is currently in a strong bull run. ~~ It is forming a parabolic pattern, which suggests further strong upmove is on the cards. ~~ Also, the pair is forming a bullish pennant pattern in the short-term charts. ~~ We expect it to surge sharply higher for the day.
EUR/AUD Technical Analysis ~~ The counter has broken two strong resistances back to back. ~~ One- bearish trendline. ~~ Two- Price resistance at 1.64427. ~~ It is having strong momentum and hence we expect it to reach higher levels sooner.
GBP/USD Wave Analysis ~~ The counter is currently in a short-term bull run. ~~ It is now consolidating within ranges to form wave 4. ~~ We expect the pair to move to the support zone (marked in the chart) and then head higher.
EUR/USD Technical Analysis ~~ The counter is in a strong bull trend. ~~ It consolidated for a brief period within a bullish flag and now has broken out. ~~ Further, it has formed an inverted head and shoulder pattern within the flag which indicates the absorption of selling pressure. ~~ Hence, we expect the counter to remain bullish in the short and near-term.
EUR/CHF Wave Analysis ~~ The counter has completed a bear cycle and is due for a correction. ~~ It formed an inverted head and shoulder pattern in the lower timeframes and has broken out. ~~ Hence, we expect the counter to be bullish in the near-term.
CAD/JPY Wave Analysis ~~ It has recovered from the low with a strong V-shaped rally, which is a sign of reversal. ~~ Further, the could interpret it as an ABC correction. ~~ Hence, we expect the pair to trade with bullish bias from here.
NZD/USD Technical Analysis ~~ The counter has broken down two critical supports. ~~ One- price action support level of 0.66128. ~~ Two- Bullish Trendline. ~~ It indicates the counter has changed its short-term to bearish and we advise traders to go short.