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Some strong support looming for AUD/USD

AdamFx42 Posted 27 Sep. as Analysis on AUD/USD, Target: 0.8823, Date: 3rd of November, 12:00 GMT  in #Technical analysis #AUD/USD #Fibonacci Expansion #Fibonacci Retracement #Strong Support
Aud/Usd weakness has pushed the price down very low
I believe it will drop a little more before support is found
If we look at the monthly chart:
Aud/Usd monthly chart
We are nearing 50% monthly fibonacci retracement of last big move up around 0.854,
last move fibonacci expansion 61.8% level is just above around 0.87
This could be a combined support area to stop the price fall
Zooming in a little to the weekly chart:
Aud/Usd weekly chart
We can see the support area just below
I believe the…
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AdamFx42 28 Oct.

Establishing a base above 0.8805 now  -- next level to break/resistance is 0.8850

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AdamFx42 29 Oct.

AUd/Usd was nearing 0.89, but has been knocked down after FOMC decision and has broken below 0.88 again - need it to retrace back up a bit

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AdamFx42 30 Oct.

Pair is above 0.88 again after yesterday's losses - this is a bullish sign,
0.8850 - 23.6% fibonacci retracement on daily chart remains resistance,
and sellers are lined up here - price should remain below here now

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AdamFx42 31 Oct.

0.878 area now acting as firm support, holding price above 0.88, sellers around 0.885 still remain in control at the resistance area, so target seems good

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AdamFx42 31 Oct.

I'd say my prediction as drawn on my daily chart looks almost identical to reality now,
so I am happy with this one

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EUR/JPY in a weekly bearish wedge pattern

AdamFx42 Posted 18 Aug. as Analysis on EUR/JPY, Target: 135.6600, Date: 1st of October, 12:00 GMT  in #Technical analysis #EUR/JPY #Fibonacci Expansion #Strong Support #Bearish Wedge Pattern
Eur/Jpy is currently stuck in a bearish wedge pattern that is about to draw to an end,
the breakout should be to the downside from this technical pattern:
on the weekly chart we can clearly see the wedge pattern,
which is pointing down - therefore bearish:
Eur/Jpy weekly chart
On the daily chart there is also a closer trendline down to be seen,
and the last two fibonacci expansion levels 61.8% of those last two moves down
are very close together, making for a support area,
which could lead to a …
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AdamFx42 3 Sep.

Top border has held the price below it, and move down again within the weekly wedge is still posible,
target still valid

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AdamFx42 6 Sep.

Move to lower border is on and price is now just 50 pips from target

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AdamFx42 11 Sep.

Price has moved up now to top of weekly channel border,
lets see if it turns down again - could be a fast run down

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