NZD/CAD
Could be a rebound from the ascending trend-line in store for this pair as price lols at a previous area of resistance;
A look at the 4 hour chart shows price trapped in a range;
A break above that 9241 level could give an upside target of circa 250 pips to that previous high at 9500 and then upwards of 9750 from there. possibility to place the stop at around the 9200 level just below top area of resistance if a breakout happened and that area potentially became support.
There is, of course, also the potential for price to break out and start moving down in which case target prices could be the 8701 level or the 8294 level - both previous lows.
AUD/USD
This pair forming a very interesting pattern with a break out of the descending trend and then a reversal back to that previous low around the 7059 level;
With RSI in the oversold zone there is a potential for the pair to retrace to 7400 level.
A look at the 4 hourly chart shows the pair reaching the very very end of a descending triangle - a break either way is possible;
NZD/USD
This pair looking very much like AUD/USD;
In contrast to AUD/USD price action is showing a much sharper retracement potentially pointing towards a sharper trend if price rebounds.
A look at the 4 hourly shows price having to do a bit more legwork before it breaks out of that descending trend.
EUR/JPY
This pair could be interesting - price is very much range bound but with MACD and RSI showing rising peaks there is the opportunity for price to head back up towards that 13312 level;
With the option to put a stop just below heavy area of support there could be a good risk to reward ratio to be gained.
A look at the 4 hourly shows that a push above that 12700 level may be a good entry level and give a better risk/reward ratio.
USD/JPY
Caught out on my previous long trade on this pair it now looks like a potential short - with a strong bearish move below the descending trend-line and now a small retracement, there is potential for the pair to break below that 11000 level and head towards previous lows at the 10800 and 10463 area;
A look at the 4 hourly suggests the beginning of a downtrend but a wait and see approach is prudent especially over the coming few days;
EUR/AUD
A really interesting pattern forming on this pair;
A break of the ascending trend-line followed by a massive retracement - potential for the pair to rebound and head back towards 15500 level - with the chance to garner some serious pips!!
A look at the 4 hourly shows an uptrend still in play but a strong break below that 16000 level could set the pair up for some bearish momentuum
GBP/JPY
Pair could be entering a range - RSI is showing oversold and if we get a cross of the MACD and MA’s then a move back up to the 14895 level might be possible;
A look at the 4 hourly suggests a strong move above the 14100 level could be an entry point;
Caution is prudent with this pair though as the vote on the Brexit deal will be happening on the 11th jan - expect a shed load of volatility.
GBP/AUD
As with EUR/AUD a break of the ascending trend-line followed by a large retracement to the broken area;
Again a look at the 4 hourly shows the potential for a short, potentially with an entry below the 18000 level, aiming for the previous low at 17200;
If you fancy going short on the pound due to Brexit craziness or fancy a long on the Ozzie - this could be the pair - expect a lot of volatility over the next 3 months or so especially though.
AUD/CAD
Pair has formed interesting pattern with break of descending trend-line and then retraced to 9600 psychological level - potential of rebound and then a push up to 9900 level and then 10300 level;
the 4 hourly is showing an equal triangle with the potential for a break out to either side;
CAD/CHF
Pair forming distinct range and price reaching a strong area of resistance on daily chart;
With RSI in the oversold zone there could be a rebound in store for this pair with a potential target at 7590 and 7735.
