EURJPY COMPLETES A SECOND BULLISH TRIANGULAR CYCLE WITHIN CONSOLIDATION

EURJPY has completed its second bullish triangular cycle, completing the formation of the second cycle with a significant BEARISH rejection, off the 50ema. Price is now expected to resume long and could get as far as 144 area.


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EURCHF: BEARISH TRIANGULAR CYCLE COMPLETED.

EURCHF (check previous analysis) closed the week with a Pin bar off the 50ema dynamic resistance after price completed a triangular cycle at the spotting of a hidden divergence on the daily time frame of the pair. The hidden divergence signifies trend continuation and since the major trend is bearish, it combines with all the other factors mentioned, to indicate further bearishness in the coming week. Price is expected to fall into 1.2120 area.


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EURJPY MAKING ITS WAY TO THE RESISTANCE AT THE DESCENDING TRENDLINE

EURJPY could go short if it manages to reach the descending trendline.


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EURJPY Validates push from support, more bullishness to follow.

The EURJPY has validated its recent push from support as price penetrates the tip of the cup and handle price formation. The momentum of this bullish validation should push price higher in the coming days.



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Markets Price Action and Trade Setups: THE WEEK AHEAD FEB 10 - 14 2014. NZDCAD GBPUSD GBPCHF EURJPY EURAUD AUDNZD

AUDNZD failed to break above a recent resistance zone, giving off a Pin bar in the wake of the false break. This set the tone for a possible sell off and we mapped out the possible entry points. The pair offered three setups within the 4hr time frame to go with the short and we managed to take them all. 

EURAUD false break of its inside bar set the stage for a possible bullish move. The bullish entry has managed to contain the pair and give further credence to the setup. Entry has been made and hopefully, this setup would offer us a good reward. The take profit zone is also mapped here.

The last time we ran a commentary on this pair (EURJPY) we brough our attention to its head and shoulder formation which we expected to send the pair back into support zone. That scenario played out quite significantly and we now have had a reversal as buyers came in hard at this zone. Price shud continue long in the coming week

 GBPCHF also has has given off a nice looking Pin Bar at support and the bullish zone has offered us a chance to join in on the expected bullishness. A 1-2 R/R should easily be met with this setup.

 GBPUSD offered quite a number of oppurtunities for long entries after we got a sinificant Pin Bar at the false break of the support. We managed to place 2 entries and both are already on a 1-2 R/R.

NZDCAD looks like a pair on a mission and we are on board with it. After the formation of the engulfing bar, we mapped out our possible entry zones and were able to make just one entry from this setup.



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Markets Price Action and Formations: THE WEEK AHEAD JAN 27 - 31 2014. EURJPY EURNZD GBPCHF GBPJPY NZDCHF NZDUSD

 EURJPY appears to be offloading some of its over bought pressure. It is important to note that the recent rally of the jpy could even get stronger given that the move has triggered from a head and shoulder formation. We are yet to get a confirmatory price action confirmatory setup to go with the formation and if we fail to get it until price hits the horizontal/trendline support, the more dominant bullish trend should then continue.

 Last week, I had mentioned that the EURNZD was still within its bullish trend as price fell into its bullish entry zone. The trade room made bullish entries based on the setup and we are currently over 300pips up as we approach our conservative TP.

 GBPCHF has just broken through our bullish trendlines as its corrective sell-off seem to be flagging a change in trend. However, we wont be moved into any actions on this pair just yet until the trend clears out. We still carry a bullish bias on this pair as we wait for prices to offer opportunities to trade into them.

 The NZDCHF has continued in its more dominant bearish trend after a corrective sell-off on the head and shoulder price formation as indicated above. Price on this pair should continue to fall lower in the coming week

NZDUSD is trapped within a range but has been offering reasonable trade setups in the range. At the moment, we still await a bullish entry setup from the head and shoulder formed at range support.









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Markets Price Action and Formations: THE WEEK AHEAD JAN 13 - 17 2014. NZDUSD EURAUD EURJPY EURUSD GBPUSD GBPNZD

 NZDUSD gave bounced off its support/Entry Zone as buyers jumped in at the chance to move long with the pair in a 1, 2, 3 triggered bullish price formation. The 123 price formation/price action trade setups give the savvy price Action trader an edge in making market decisions. 0.8511 is the key target for the expected bullish move.

 EURAUD is still very much in an uptrend though there now is significant threat to its continuation after price failed to continue lonng after hitting the bullish entry zone. A break below the minor support would initiate a possible change in trend.

 EURJPY still looks significantly bullish as price broke through and still trades above the recommended entry zone. Price should continue long in the coming week.

The euro has bounced off its support/bullish entry point following a 1 2 3 price formation it gave off at the formation of the IPB (Inside Pin Bar) at about December 2014. The CPR (Closing Price reversal Price Action setup now sets the tone for a resumption of the more dominant bullish trend.

 

GBPNZD faced support as it traded into its bullish entry zone (My entry zones are determined by the breakout point of a previous 1 2 3 price formation). Price is expected to resume another bullish run based on this. Further more, price also broke out from the cluster of inside bars at that zone.

I have maintained that the GBPUSD is bullish with no sign yet of it slowing down yet. Price has once again bounced off support/entry zone, setting up even another 1 2 3 formation and a break of the entry trigger at the tip of the recent pin bar would set the pair up for another leg of the bullish run.



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The week ahead: Nov 18 - 22, 2013. AUDUSD, EURJPY, EURCAD, GBPAUD, GBPUSD, NZDJPY, NZDUSD.

AUDUSD as seen above is consolidating at about the support Zone we had mentioned at our last review. The expectation is for bulls to get in on this pair and push it higher from this zone. The trade room made an entry just before the close of the previous week and we expect the bulls to take control from here.

EURJPY as seen above has hit our projected TP Zone. The trade room made over 300pips from our entry. We now wait to see the reaction of the pair at this resistance zone.

EURCAD had triggered our buy entry as price fell within the support zone where bulls were expected to get back into the bullish ride, however, it did manage to pierce that zone-an indication that the bears were viciously selling off. The trade room did make a bullish entry but profits have been protected early since the pair also gave off a sell signal at the last recent resistance Zone. From this point, we are safe to hold onto the trade and hope price manages to push through this resistance. If it fails to and resumes bearish instead, The long tailed support should hold it for another round of bullish entries. Therefore we may be in for some Din Dong on this pair yet.

GBPAUD just above has been pushing long since the last time its review was made. We had pointed out that the trend had changed to bear but that a corrective buy-off was to be expected. Two zones were mapped out as possible reversal Zones and it has thus far broken through the first zone. If it sustains this break, It will most likely begin its sell off from the next resistance zone as indicated in the chart above. A price action sell signal at that zone should send prices down to the expected TP zone as indicated on the chart above.

GBPUSD has been consolidating within the Key resistance and Support Zone as indicated in its chart above. Its now moving bullishly towards its Key Resistance Zone. Pending Price Action, New bearish entries would be made at that zone. It may interest traders to know that the pair now carries a bearish bias following a failed break of the Support Zone.

 NZDJPY: The last review we ran on the pair showed that we held a bullish bias on the pair and also made a bullish entry on it based on the over-all bias. The pair had given off a bullish Trade Signal as it delved into its Key Support Zone, setting off a Pin Bar Trade Setup. This was more like a bread and butter setup and was subsequently taken gleefully. As the pair now trades within its Resistance Zone, We wait to see what Price action Signal it gives off at this zone.

The NZDUSD chart tells an interesting story. The pair had made a failed attempt to continue its bullish trend from the area now marked as Key resistance. This changes the bias on this pair to bearish, and though the new move is bullish, it merely is a corrective bullish move. We are bullish on this pair but our TP is at the Key resistance zone and we would quickly make new bearish entries if we get a clear sell signal.


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The Week ahead Nov. 10 - Nov 15 2013. AUDUSD, CADCHF, EURCAD, EURJPY, EURNZD

AUDUSD daily chart above shows that price has fallen within the pairs critical Support Zone. Bulls are expected to get into the market pending Price Action bullish setups. If we get a failed break on this pair as it attempts to continue in its more dominant bullish trend, our target on the potential move long will be cut significantly.

 CADCHF gave off a bearish Pin Bar Trade Setup at the close of trading on Friday as price bulled correctively into its resistance zone. The bears should snap on the opportunity to make new bearish entries. A close above this zone would change our bias on this pair.

 In the previous commentary on this pair, I mentioned that the pair was expected to resume its bullishness at about this zone. The Pin Bar Trade Setup from Thursday's close, signals a trigger for the continuation of the previous bullish trend, since we only see the bearish move as a mere corrective sell-off.

 The EURJPY and CHFJPY act basically in the same way, and I had pointed out that the bulls were expected to get in on them as price falls into the demand zone. The Trade room made a quick entry on the bullish side and with the daily time frame also giving off an inside Bar Trade Setup, Its likely that price would resume north from this setup.

We had a failed break of a Support Zone on the EURNZD on Thursday, 7th Nov. The failed break should send prices higher in a corrective bullish move.


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The Week Ahead 7 - 11 Oct., 2013: EURNZD EURJPY EURUSD Price Action Trade Setups

 EURNZD gave off an inside Pin Bar after price has looked to have sliced through Support at about 1.6300. That Price Action Pattern lead the way to some pullback. But when managed to break and close above the previously broken Support to the upside yet again, the bias tilted from expecting more bears to expectation of a new round of bulls. Expectations are for price to reach towards 1.6800 Psychological resistance.

 EURJPY should continue moving southwards following the double daily Pin bars it gave off last week. Reaching support at about the 130.00 Psychological Support remains feasible.

EURUSD gave off a Pivot Top price Action Trade Setup. This setup gives us a bearish bias going into the new week however, further confirmation would be sort on the 4hr time frame before any new sell entries can be made.

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EURJPY PRICE ACTION: The week Ahead. August 04 - 09, 2013

 

 Last week saw the re-entry of buyers into the eurjpy market. From the chart above, Ive tried to demonstrate why we should remain bullish even in the new week. After the false break of the intersection 8weeks ago, price has traded higher, though slowly. Experience in the market has thought me to respect these slow moving trending markets cos they are usually followed by an explosion in movement of price, as traders continue to load the market with volumes and volumes of orders. We are already in on this expected bullish rush as a result of the Hidden Fakey with Pin Price Action Setup depicted above, though with a conservative TP as indicated however, we still would be on the lookout for more bullish entries on the daily and intra-day time frames on this pair.

My Recommendation: Stay bullish

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EURJPY Price Action: Fakey Setup takes off. August 1, 2013

 

EURJPY has pulled higher, following the Fakey setup from the close of trade yesterday. Price had been held by the lower trend-line after a pullback as price hit the inner side of the ascending channel, which the pair is expected to trade within, in the coming weeks. The Trade room managed to make a long entry and our target will be the upper band of the channel.

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EURJPY Price Action: Pin bar Trade Setup pulls significantly higher. Against Market Open, July 21, 2013

 

 On July 11th, I drew our attention to the Pin Bar Trade Setup on the pair and did a follow up on July 15. The pair has indeed continued to make higher prices as it now approaches its supply zone. It would be interesting to see how price reacts within this zone. Buyers could begin to scale out their long positions.

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EURJPY Price Action: Pin bar Trade Setup pulls higher. July 15, 2013

 

 My trade commentary on this pair on 11th July spotted a Pin Bar Trade Setup on the pair, it also talked about the ascending trend-line as well as the pair being within its demand zone. The setup has eventually lead this pair higher but it now trades within its (Resistance) supply Zone. The overall trend still remains bullish unless we get significant Bearish Price Action Trade Setup at this zone, with subsequent confirmations at the lower time frames.

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EURJPY Price Action: Pin bar Trade Setup. July 11, 2013

 

The EURJPY faced very significant buying presure as it it sold into its demand zone in today's trading leading to the giving off off all previous strength the yen exercised over the Euro. This event lead to the formation of a Pin Bar Trade Setup. Its important to note that the demand zone also coincided with the ascending trendline on this pair. A pin Bar at support at support as we have here should lead to more bullishness, however, there is an obvious supply zone just above as shown in the picture above. If the pair manages to break above this supply zone, we would be in for a new round of buying frenzy on the pair which could send the pair as high into 133.50 or there about.

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EURJPY Price Action: Inside Bar Price Action Trade Setup. Against Market Open May 26, 2013

 

The EURJPY closed as an Inside Bar on Friday with immediate Support and Resistance at about130.60 and 132.05 respectively. The setting is that of indecision and could see price hitting both support and resistance before breaking out. Short term Trade decisions can be made on the intraday time frames.

My Recommendations: buy pair with care as it retests support with quick profits taken or sell pair as it hits resistance also with quick profits taken.

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EURJPY Price Action: Pin Bar Price Action Trade Setup. May 23, 2013.

 

The yuppy sold into into support and was subsequently faced with quick profits taking. This resulted in the formation of a Pin Bar Price Action setup. The major trend on this pair is bullish and the Pin bar has occurred right at the confluence zone. This looks like a decent bullish signal which could send prices higher in the next few trading sessions.

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EURJPY Price Action: The Week Ahead 21st -26th April, 2013

 

A Pinbar off a confluence zone of the 8ema dynamic and horizontal supports should push prices higher within this week.

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EURJPY Price Action: Inside Pin Bar Trade Setup, Fails. 02/04/2013

 

 In yesterday's price Action Commentary, I pointed out the Inside Pin Bar Trade Setup on this pair which has effectively failed by the close of the day's trading, as market closed below support as well as the mother bar of the inside pin bar. I did point out that it was neccesary to wait one more day to get a clearer view on the setup. 

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EURJPY Price Action: Inside Pin Bar Trade Setup, 30/03/2013

 

The EURJPY has given off an inside Pinbar Trade setup at Support (120.70). This tends to counter the initial fakey trade setup discussed in its previous commentary. If this setup pulls off, target could be at about 124.00 which is the nearest resistance.

My Recommendation: I will wait one more day to make a proper assessment of this setup.