Long-term and Short-term Setups

[TriciaWilson]

USD/CHF Wave Analysis

~~ The counter is currently in an ABC correction.
~~ It is now in its final stage for wave B looking out for support.
~~ We expect the pair to find its support around the current price point and head higher.

 

[TriciaWilson]

AUD/USD Wave Analysis

~~ The counter is currently forming an ABC correction.
~~ It has completed the w and x waves of the wave B and is now moving up to form a wave y.
~~ Hence, we expect the pair to be bullish in the near-term.

 

[TriciaWilson]

EUR/USD Technical Analysis

~~ As we mentioned in our previous post, 1.18700 is a strong resistance for EUR/USD.
~~ Now, it has formed a head and shoulder pattern at the zone and is coming down strongly.
~~ The next support is only at 1.17500 and we expect a free ride to bears till then.

 

[TriciaWilson]

AUD/CHF Wave Analysis

~~ After completing a bearish cycle, the counter is limping up to complete ABC correction.
~~ It is forming a wave A in the form of a bearish flag.
~~ We expect it to render a bearish breakout to form wave B.

 

[TriciaWilson]

USD/CAD Technical Analysis

~~ The counter has bounced off strongly from the support 1.31, after trapping the bears with a fakeout.
~~ Now, it has taken down a bearish trendline as well.
~~Hence, we expect the pair to be bullish in the short-term.

 

[TriciaWilson]

CHF/JPY Wave Analysis

~~ After completing a 5-wave bull cycle, the counter is currently in an ABC correction phase.
~~ It is now at a strong price action support zone and at the final stage of wave A.
~~ Hence, we expect the pair to be bullish in the near-term.

 

[TriciaWilson]

NZD/USD Technical Analysis


~~The counter was in a consolidation phase after a solid down move.


~~ The consolidation resembles a bearish flag pattern.


~~ Further, the entire setup could be interpreted as a head and shoulder pattern.


~~ Hence, we expect the pair to be bearish in the near-term.

 

[TriciaWilson]

EUR/USD Technical Analysis

~~ As we suggested earlier the counter is in an ABC correction and pushed down at the resistance zone.
~~Now, the bearish flag formation has also broken down, validating the wave C.
~~ Hence, we expect the pair to be bearish in the short-term.

 

[Wilma Mazzanti]

Long term trading can be profitable with patience. The decision for long term trading is very perfect. If a trader wants to trade in the right way, he has to go ahead with trading with a long term view. Short-term trading is very profitable but there are many complications. I think trading goals should be traded by applying proper knowledge in order to be profitable. It is not possible to succeed in trading in one day. Therefore, trading with long time targets should be done.

 

[TriciaWilson]

AUD/JPY Wave Analysis

~~The counter is currently in a long-term corrective ABC structure.
~~ It has completed wave A and is consolidating in a box structure at the low.
~~ We expect it to break upside and move to form wave B.

 

[TriciaWilson]

EUR/GBP Technical Analysis

~~ The upside movement of the pair is capped by a bearish trendline.
~~ It attempted a breakout but fizzled out and the price action has formed an H&S pattern instead.
~~ Hence, we expect the pair to be bearish in the near-term.

 

[TriciaWilson]

EUR/USD Wave Analysis


~~ The counter had completed its long-term wave 4 with an ABC correction.
~~ It had bounced off from the lows strongly by crossing the resistance at 1.1706.
~~ Further, if the price sustains at a higher level for the day, it could be interpreted as a morning star formation.
~~ We expect the pair to race away to highs and complete the wave 5.

 

[TriciaWilson]

USD/CAD Wave Analysis

~~ The counter has been consolidating in a sideways correction for the last few days.
~~ It could be interpreted as an ABC correction and the recent down move as wave B
~~ We expect the pair to find support in this zone head higher.

 

[TriciaWilson]

EUR/CHF Technical Analysis

~~ The counter has formed a dragon pattern.
~~ In a downtrend, it made a 38% retracement from the low and then rendered a false breakout.
~~ Further, it is on the verge of breaking out the trendline (a break validates it).
~~ Hence, we advise traders to be long in the counter once it crosses 1.730.

 

[TriciaWilson]

USD/CHF Wave Analysis

~~ The counter has been in a downtrend since the start of this year.
~~ The price was consolidating in a narrow for the last few months which could be interpreted as wave 4 of Elliott wave.
~~ Now it is on the brink of rendering a bearish breakout.
~~ We expect it to breakdown and complete wave 5.

 

[TriciaWilson]

Crude Oil Wave Analysis

~~ The strong upmove from below zero levels in the crude oil was consolidating for the last few months.
~~ It could be interpreted as wave 4 of Elliot wave which also resembles a bullish flag pattern.
~~ We expect the pair to be strongly bullish after it crosses the resistance at 41.90.

 

[TriciaWilson]

CAD/CHF Technical Analysis

~~ The counter has consolidated and formed a base at the lower.
~~ It could be interpreted as multiple inverted and shoulder patterns.
~~ Now, the pattern has broken out and hence we expect the pair to be bullish in the short-term.

 

[TriciaWilson]

EUR/USD Technical Analysis

• The hope (virus cure) rally has fizzled out.
• The pair hit the rang top, formed a head and shoulder pattern, and has broken down now.
• We expect the pair to hit the lower end of the range in the next few sessions.

 

[TriciaWilson]

GBP/JPY Technical Analysis

~~ The counter has been consolidating within a bearish flag pattern after the deep slide.
~~ It hit the upper parallel of the pattern and then made a strong sell-off.
~~ We expect the pair to move lower and break down in the short-term.

 

[TriciaWilson]

EUR/AUD Wave Analysis

~~ The counter is correcting in an ABCDE formation.
~~ It has completed wave D and is taking support at the trendline.
~~ We expect the pair to move higher to complete wave E.