There is very similar picture on GBPUSD if compared with EURUSD. Also formed a double top and also with the new cycle. GBPUSD should target 1.4830, with the cycle ending on 5th of May.
If we look at AUDUSD on Daily chart the cycle down has already begun on the 27th of March and should be ending on the 6th of May… hhh almost the same as GBPUSD. Good trading to all!
I think it is obvious that there is significant support at 54 level and significant resistance at 58. At this point with the double top on the lower timeframe WTI has all chances to correct back to 54, after witch we might see uptrend continuation.
NZDUSD entered the downtrend cycle that could last approximately 2 months. As a target I see 0.7270 area. As it currently holding the resistance, there could be a good entry point presented early next week.
EURAUD cold accelerate growth mainly due to the AUD weakness. Trend up could continue for another 2 week targeting 1.4130, that makes it approximately 250 pips higher than current price.
AUDCHF continues trade in the range with high probability of re-testing strong support at 0.74 area once again. When/if broken, it will open for more downside potential.
GBPUSD reached the upside target. It could face strong resistance at this level and there is potential for reversal down.
In your chart the reversal was expected from 1.527x level, but the price has continued to 1.533x level, as 1.5345 is the next resistance level hopefully the reversal starts from that point.
There was no strong support confirming the end of the EURJPY downtrend. Currently we can see the bounce of the fib level that could be the key area for downtrend continuation. If that’s the case a huge move down in a very short time is something very realistic.
GBPCHF should have the final swing down before/if it reverses. Another 100pips up is quite likely in the very near future.
Completely missed to post EURGBP, but here we go, still to reach the target….
CADJPY did break below the rising channel that could be a confirmation of a long term downtrend. I think this scenario has the right to live and could be developing over the coming months. Besides, if you look at all JPY pairs, they all have some sort of signals of a downtrend… well for me at least.
Break below the descending triangle confirms the downtrend. At the very minimum I’d expect a triple bottom.
GBPCHF broke out from the range that could push price much higher. Currently we can see a pullback to the previous resistance, and it could be a good spot to buy.
CADJPY holding the support nicely that should be short term uptrend confirmation.
While AUDCAD did hit the upside target it might very well test the strong resistance around 94.00 area
While GBPCHF formed a double bottom I’d expect now a correction up to 1.4230
For AUDUSD looks reasonable to retest 0.77 support area considering the break below the ascending channel. Lets see…
The downtrend channel was broken that should push price higher, although currently GBPUSD is at the resistance and first I’d expect a drop to 1.48
According to cycle analysis AUDCAD should start moving. Considering that it is now at the top the move is most likely will be down to re-test major support.
