EURAUD looks quite bullish in the short term, as it looks to go up to and retest the top of the channel. The pair will be poised for a bullish run as German unemployment data and Euro-Zone Consumer Price Index Estimate data emerges in the near future. Lack of faith in the australian dollar could also move the pair upwards, at least until the 1.64-1.65 level and...
USDCAD pair seems to be bearish, as we can see a false breakout of the channel, and the pair is headed for a rather sharp move down. This will complete the wave pattern that I'm observing; will update in the next few weeks after the drop happens.
There is an interesting pattern forming on the 4hr CADJPY chart, and the pair looks very bullish at the moment. There could be a small flag in the short-term, so that could be a good opportunity to get into the trade and stay in the trade for the next few weeks.
Ahead of both the BoJ monetary policy statement as well as the Japan's central bank's interest rate...
This one is a somewhat similar setup to the USDCAD trade. Expect and trade a rather sharp move down in the very short term, and then get out of the trade. Again, this is for the very short term, the overall trend remains quite bullish. Eventually, the trend will reverse and there will be a more longer-term move down, but I'll outline this in an update in a few weeks.
GBPAUD is headed for a downmove in the medium-term. Expect to get a small pullback and then sell the pair. It has potential to go down to the 1.66-1.67 level, but for the meantime expect the pair to go down several hundred pips.
The usdcad has to complete a simple 1-2-3 correction pattern, and the third move down is expected over the next few weeks, bringing the pair down to the 1.25-1.26 level.
