EURUSD : despite of bearish biases on Monthly, Weekly and even Daily TF, it looks like the pair has been “buying” time delaying its fall. The UPward Move on H4 TF for the last hours has found double resistance by both Tenkan Sen and Kijun Sen for now. Even if price exhausts its bullish steam by shooting up to the Upper Bollinger Band of H4 TF on Monday, SHORTING the Pair is the wise choice here and it’s definitely worth WAITING for ALL your SHORT Entry Criteria to be met, unless you prefer to ignore a 250+ pips move down to the Lower BBand on Weekly before it sinks even lower. No real action is expected till Market closes.
GBPUSD : let the pair exhaust its Bullish Momentum with a Minor UPward Correction which has already started with a Bullish Price/Tenkan Sen Cross on H1 TF and will most possibly go higher making a Bullish P/TS Cross on H4 TF as well. The best strategy is to WAIT for the Correction to finish so you position yourself SHORT (SELL) ideally from H4 TF after ALL your Short Entry Criteria are met. This won’t happen before Monday or even Tuesday.
USDJPY : Daily is the TF from which you should monitor the pair. An EXPLOSIVE Breakout is coming but you must see ALL your Entry Criteria met before you Enter. On my last Signal on the pair I gave BOTH Scenarios, Bearish and Bullish. So far we see Spikes but not real moves. I think we won’t see the Breakout happening before Chikou Span (ICHIMOKU Green Line) which I call “magical” for this reason, crosses above or below past price action. Chikou Span needs at least two trading days to crawl towards past price action “touching” it. So most possibly the Breakout will happen on Wednesday or even Thursday. But again, this move is worth waiting.
EURJPY : pair will most possibly finish interacting with Median Bollinger Band on DAILY TF by Monday and odds are rather Bearish than Bullish. I say that because on H4 TF price has reached the Upper BBand with candlesticks forming UP Spikes and a Bearish reversal candlestick pattern forming. Furthermore, Stochastics are kissing a bearish “kiss” below 80-level line, while the Lower Edge of the leading KUMO is Sharp Pointing Downwards. So if the Upper Edge of the Leading KUMO gets curved/sloping downwards, we’ll know the fall has started.
USDCAD : BUYING while price is moving on the Upper BBand on DAILY TF, after having made an UP Spike, with a narrow Bottleneck formed and Stochastics having made a bearish crossover, is out of question. SELLING is the wiser thing to do now but ONLY when ALL Entry Criteria are met. And even if biases remain 1000% Bullish and we want to BUY, that should happen AFTER a proper and as deep as possible correction. WAIT is the key word here.
AUDUSD : pair looks like is about to form a DOUBLE BOTTOM Bullish Reversal pattern on DAILY TF. But we should look for a nice LONG Trade Set Up on Monday. It makes no sense Entering now.
GOLD : price will most possibly take off to a wildly bullish rally up to the 1204.00 price level where the Lower Border of the KUMO on Weekly is. But it may as well be a bumpy ride. So we’d rather study our Trade Set Up strategically on Monday having a clearer picture of price’s intentions.
Have a fantastic weekend!