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Long term bias is still bullish

Daily Vision

The pair was indecisive last week formed a Doji on weekly chart. The bias is neutral in nearest term but as long as stays above support area.
I still prefer a bullish intraday scenario at this phase targeting 88.50.
Immediate resistance is seen around daily close. A clear break and daily close above that area could trigger further bullish pressure testing some resistance areas. While an immediate support is seen around weekly close.
A clear break below that area could trigger …
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Bearish harmonic pattern

Daily Vision
The pair trend is bearish in daily time frame. Vital resistance is present at weekly close. In past few trading days, price has completed possible bearish impulse Wave-A and moved up.
Based on Elliott wave analysis, I now expect price action to print bullish Wave B. The trend is bearish and a good idea is to look for a sell trading chance to join the down trend after the end of bullish Wave B leg in current time frame or smaller time frame targeting 78.62.
However, if bullish can…
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Long term bias is still short on AUDJPY

Daily analysis
AUDJPY opened the week at 85.98 and touched a low of 85.47. It was all uphill for the pair, which hit a high of 85.14, putting strong pressure on resistance at 85.98, AUDJPY closed the week at 85.65. With the pair posting sharp gains last week, we begin with a top level at the round number of 85.74. The round number of 85.65 was a swing low and remains of importance. 85.75 was the high and a key resistance line. 85.96, which was a swing low, has switched to resistance. It is a wea…
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AUDJPY


SHS pattern, target reached.
50% retracement from recent scale.
61.8% retracement from 11/4/13 high.
8/8 uptrend_line, rejection.
rising 50 sma.
Target_1 : 98.667
Target_2 : 99.230
Target_3: 100
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4H -- AUDJPY -- Bullish Gartley Pattern.

Risk/Reward Ratio: 1.8
EP: 93.79
SL: 92.66
TP: 95.81

The Confirmations

A Bullish Gartley Pattern is about to form on the 4H / Daily chart.
the 0.786 lines up nicely at support and the RSI confirms the oversold environment.
Look for a continuation to retest previous highs.
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VictoriaVika avatar

Well done.

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