MAY 17 – MAY 22 WATCH LIST




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..

Updated: May 17, 2020 — 9:27 am

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