Long-term and Short-term Setups

iamsam

Trader
Oct 12, 2020
24
12
9
31
USD/JPY Technical Analysis

~~ USD/JPY made a strong impulse move two weeks before.
~~ But the rally fizzled out at the high and since then the pair is retracing its move.
~~ Now, it has found support around the 103.7 mark.
~~ A move beyond the resistance 104.2 can invite bulls once again in this counter and hence we advise traders to go long as soon as the pair breaks above it.

View attachment 17289
Would also be curious to see your forecast on this now we're above 104.2XX
 
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Reactions: Tricia Wilson

Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
USD/CAD Technical Analysis

~~ The counter is currently hovering around long-term support of 1.3000.
~~ Though the price action has been able to marginally breakdown, it is not able to follow through.
~~ Further, the stochastic indicator has made a bullish crossover from the oversold zone in the 8-h chart.
~~ Hence, we expect the bulls to push the pair to higher levels from here.

USDCAD.png
 

Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
NZD/USD Technical Analysis
~~ The counter has been in a strong uptrend in the long-term charts.
~~ In the short-term charts, it is moving up in an ascending channel.
~~ Further, it is currently at the lower parallel and hence it's a good time to go long.

NZDUSD.png
 

Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
EUR/AUD Technical Analysis
~~ The counter is currently in a bearish flag formation.
~~ It has formed a good base at the lower parallel and is ripe for a rally.
~~ Hence, we expect the pair to be bullish and move to the upper parallel from here.

EURAUD.png
 

Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
GBP/JPY Technical Analysis
~~ The counter has been in an ascending triangle formation.
~~ Now, the range is narrowing and the pair is in a make or break situation.
~~ We expect the pair to render a bullish breakout, however, we advise traders to go long only above 140.341.

GBPJPY.png
 

Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
GBP/CAD Technical Analysis

~~ As we suggested earlier in our premium analysis, the counter has formed a bearish flag formation.
~~ It has now broken down with a strong volume candle.
~~ Hence, we expect the pair to move down to lower support levels.

GBPCAD.png
 

Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
EUR/JPY Wave Analysis

~~ The counter is currently in a short-term bull cycle.
~~ It is now in a consolidation phase which could be termed as wave 4.
~~ We expect the pair to surge to the high to complete wave 5.

EURJPY.png
 

Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
EUR/USD Technical Analysis

~~ The counter is currently forming a bullish flag pattern.
~~ It is now sliding down to the support zone placed around 1.2000.
~~ The support zone presents a good buying opportunity, however, if you are a risk-averse trader, we advise you to go long after it crosses the resistance at 1.21322.
 

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Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
GBP/NZD Technical Analysis

~~ The counter has broken down a head and shoulder pattern.
~~ The pattern is right inclined which portrays extreme negativity in the counter.
~~ Hence, we expect the pair to be bearish in the short-term.

GBPNZD.png
 

Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
USD/CHF Technical Analysis

~~ The counter has been sliding down in a descending channel formation.
~~ It is now consolidating in a bear flag pattern and closing in on the upper parallel.
~~ We expect the pair to find resistance around here and then continue its downside.
 

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Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
EUR/USD Technical Analysis

~~ The counter has broken out of a deep consolidation.
~~ Technically, it could be interpreted as a pennant formation and box formation.
~~ Both signify deep consolidation and hence the pair has legs for a further bull run in the short-term.
 

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Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
GBP/USD Technical Analysis
~~ The counter has formed a cup and handle pattern in the long-term charts.
~~ There might be some consolidation in the near-term.
~~ We expect the pair to be extremely bullish in the near-term.
 

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Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
USD/CHF Technical Analysis
~~ The counter has found support at the lows.
~~ It is forming a base in the form of an inverted head and shoulder pattern.
~~ We expect the pair to soar when it crosses above the neckline. Hence, buy only above 0.89200.
 

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Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
EUR/USD Wave Analysis

~~ The counter is currently in a 3-wave bear cycle.
~~ Now, it has completed its wave B and is poised to commence its wave C.
~~ The engulfing bearish candle has marked the beginning of wave C and hence we expect the pair to be bearish in the near-term.EURUSD.png
 

Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
EUR/JPY Technical Analysis
~~ The counter has broken out of the critical resistance of 126.8-127.
~~ Further, it has broken out after strong consolidation in the form of flag patterns in price action and RSI indicator.
~~ Hence, we expect the breakout to sustain and catapult the prices higher.
 

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Tricia Wilson

Trader
Jul 8, 2020
218
4
19
42
GBP/USD Technical Analysis

~~ GBP/USD is forming an ascending triangle pattern in the short-term charts.
~~ Further, the continuation pattern has been formed after a breakout in the long-term charts.
~~ Hence, we expect the pair to be bullish in the short-term.
 

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