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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