Audnzd Update - www forex trading signals info

Audnzd Update ~ www forex trading signals info

On 10th June, we did an analysis titled Audnzd preparing for a new bullish move. We were willing to take a buy trade at 1.0815 with final target at 1.127. 

We did and price advanced very fast. 

 

 

In the last analysis, we used the chart above which showed a systematic impulsive dip that started toward the end of 2010 and ended in march around 1.0 price level.

 

Price advanced immediately after the completion of the fifth wave  in what was expected to be the first impulsive move of a major correction. 

This move was expected to end at 1.2770 ( the present price level).

 

The recent bullish move is a typical motive wave and a pull back is expected as price should advance to 1.2 region.

The chart below shows the first impulsive move of the correction.

 

 

 

1.300 ( a strong resistance) and 1.1475 ( 100% projection of wave 1-3 from 4) are good levels of reversal. 

Price is not expected to break above 1.1475 before the intraday bearish movement starts.

 

From the intraday chart below, well see that price could still move a bit upside, probably above 1.300 before turning to the south. 1.1475 should be held above. 

 

 

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Yen Is Expected To Strenghten Across Board - forex trading reviews blogs

Yen Is Expected To Strenghten Across Board ~ forex trading reviews blogs

On 3rd June we had an analytical report titled What the Charts are saying about Yen. We saw how Yen has dipped for many years, from 2011 and making a 4 year low.

We made comparisons with other Yen pairs and forecast an imminent reversal in the event of things, but not until further movement up.

We forecast levels of reversal for UsdJpy, CadJpy, GbpJpy, AudJpy. Among all these pairs, we chose to look closely at UsdJpy and CadJpy

#UsdJpy

Price broke above the intraday triangle (intra day wave 4) to move in a clear 5-wave impulse to the upside. 

The intraday wave structure is labelled below.

 

 

The wave intraday 5-wave perfectly fulfill all elliot wave rules and guidelines for an impulsive wave.

As expected, price crashed below the 4th wave and then retraced to 124 which is a good intra day resistance. 

Price could crash further to 119 ( the low of the longer term 4th wave).

 

We took our sell order at 124 last week with stop loss slightly above 126 and our first ultimate target at 119. 

 

We had the courage to take this trade because we percieved the Yen might start strenghtening across board and with a deeper bearish corrective bias on Usd Index. 

 

#CadYen

 

After the completion of the triangle 4th wave, we took the ride up and exited at 101 for  a profit of 170pips.

 

 Price forming a rejection sign at a crucial resistance level. It might start falling from there as expected

 

 

 

Updates will come later.

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