SILVER/USD - Silver is looking bullish. As expected we rejected the monthly demand zone and the 88,6% fibonacci level, we can also see an inverted hammer on the wednesday daily candle and a bullish cypher formation. I've entered a long position from 16.35 but I will watch the daily close carefully, this could just be a retest on the broken trendline before another test to the downside, time will tell.
GOLD/USD - We've had a nice ride to the downside the last 2 weeks, I was in a short trade from 1275 with the TP on 1220. I expect a pullback, possibly a trendline retest before further downside to 1200. Right now I'm looking at possible shorts from 1250, but we will see what the market is telling us.
USD/JPY - I'm currently short from 113.80 down to the hourly trendline as you can see on the chart. I think we could see a possible break on that trendline to retest 113-112,70 area before further upside. Will watch this pair closely next week for a possible long.
USD/CAD - This pair has been playing with some emotions this week, it did break the ascending trendline but has been in a consolidation ever since. We're bouncing between 1.3650 and 1.3750. I expect this pair to make a movement to the downside next week or even later today. I will look for setups when we break the consolidation box.
GBP/USD - I've expected some downside for this pair now for the past two weeks since we've had some divergence. Yesterday we did break the ascending trendline and today we went for a pullback. I'm short from 1.2880 with my take profit down at 1.2780 before the 1.2774 structure and support.
GBP/AUD -I have been in a short trade since yesterday morning, just closed it with 185 pips in profit. Now I'm looking for a confirmation for a long position from 1.7360, but first I want to see that we reject the trendline properly and make some kind of reversal pattern. The first target for any long trade is 1.7600.
If you like my content, please give me a follow so you can get it in your feed.
Kind Regards,
Crank420