MAY 17 – MAY 22 WATCH LIST dmacinc May 15, 2020 Weekly Watch List Comments GBPUSD: Still Bearish? May get a pull back to 1.21747. Price needs to stay below the zone. If it breaks resistance at 1.22666, bearish bias becomes invalid. USDCAD: Descending Channel With Inverted H&S Wait for the breakout.. GOLD: Buy The Dip The bulls are back in town. Expecting a pull back before the next bull run. Second scenario is always a continuation pattern so look for a bullish flag also. USDJPY: Falling Wedge Breakout UJ finally showed her hand. We had a nice break and retest. Wedge resistance is now support. Expecting more rise. NZDUSD: Finally Cleared A Major Quarter Point Finally got a clean break below the major QP 0.60000. Looking for a retest or bearish flag before continuing down. NZDJPY: Still Ranging. Ready For A Breakout? This pair has been ranging for awhile. Will we finally get a breakout? Waiting for her to show her hand. GBPAUD: Falling Wedge. Are Buyers Ready? This pair has been very choppy. The falling wedge has yet to play out. Let’s see if buyers will be ready this week. EURNZD: Descending Channel Breakout, Buy After Retest Nice break out of the descending channel. Looking for a retest before going long. We may get a bullish flag. Be on the lookout for a correction or continuation pattern. EURJPY: Descending Channel, Will We Get A 3rd Touch? Would like to see price push up to retest channel resistance. Need to see how price reacts to that level. Also has an inverted H&S so it’s possible that we could get a break above the channel. EURAUD: Buy After The Correction Looking for a pull back or a bullish flag to form before the next push up AUDJPY: Bears Resume Wait for the trend line break and retest..