GBP/JPY Daily Chart Testing Key 144 ema Plus H&S

The GBP/JPY is testing the 144 ema resistance (red box) after bouncing at the 50% Fibonacci support zone (green box). A bullish breakout could confirm a move higher.

Daily chart

GBP/JPY Daily Chart

The GBP/JPY might be building a wave 3 (light purple) but there needs to be a clear daily candle closing above the resistance zone and 144 ema close. A breakout could trigger a wave 3 (light purple) of wave A (purple) that will retest the previous top.

A failure for price to break the head and shoulders pattern resistance level could trigger a retest of the support (green) trend line. A bearish breakout below that support line could turn the table and indicate a bearish outlook towards the next Fibonacci levels.

GBP/JPY Daily Chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

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EUR/USD Bulls in Control but Require Break Above 1.13

The EUR/USD made a bullish breakout above the 21 ema zone after bouncing at the 144 ema support. Can the currency pair confirm the uptrend again?

4 hour chart

EUR/USD 4 hour chart

The EUR/USD is certainly in a good position to confirm its bullish bias. Price action is retesting the 21 ema support zone. There is also strong support around the inverted head and shoulders levels and the 144 ema zone. Only a break below the 144 ema invalidates (red x) the immediate bullish trend. In that case, a larger and more complex bearish WXY correction could take place. But if wave 2 (purple) stays above the bottom of wave 1, then an uptrend has better odds.

An immediate breakout (blue arrow) above the current 4 hour candle high (red line) could already confirm the continuation higher. Also a bull flag pattern would aid the case for the bulls. Plus of course, the breakout above the resistance line (orange) and flag pattern (green arrow).

EUR/USD 4 hour chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

USD/JPY Bearish Trend Aims at 105 Target

The USD/JPY is making a bearish breakout, which is aligned with the larger downtrend (see all moving averages). What are the main targets for the waves 3 and 5?

1 hour chart

USD/JPY 1 hour chart

The USD/JPY is aiming first of all at the 123.6% Fib and previous bottom at 106.50. If a continuation flag pattern emerges, then a continuation towards the targets at 106, 105 and even 104.50 is possible. The ecs.LIVE traders in our webinar are already positioned in short setups at 107.30 based on the SWAT methods.

Any pullback should not break above the 21 ema and previous bottoms (red x), otherwise the bearish outlook is invalid. The immediate breakout is, however, only confirmed if price action is able to close below 106.75 (green line) and the HMA 20.

USD/JPY 1 hour chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

 

GBP/AUD Bear Flag Pattern Offers Breakout Trades

The GBP/AUD is building a consolidation pattern. The breakout direction will determine whether there will be a downtrend continuation OR a larger bullish retracement.

4 hour chart

GBP/AUD 4 hour chart

The GBP/AUD is most likely in a wave 4 (purple) pattern. This remains true even if a bullish breakout occurs above the resistance (orange lines) and the 144 ema close (blue). In this case, price is probably expanding the wave 4 via a WXY correction. Another ABC zigzag could occur within wave Y with a main target at 1.8750.

However, the current chart pattern is probably a bear flag or triangle pattern. The bearish breakout could confirm the downtrend within wave 5 (purple). The main support to monitor is the previous support fractal (dark green lines). A break, pullback, and continuation pattern is desired. The main targets are located at 1.78, 1.75, and 1.73.

GBP/AUD 4 hour chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

EUR/USD Bulls Regain Control but Needs Push above 1.1350

The EUR/USD made a bullish bounce at the 23.6% Fibonacci support level. Now price is trying to break above the 21 ema zone, which is a full uptrend alignment. But the price will need to make a break or flag to confirm it.

4 hour chart

EUR/USD 4 hour chart

The EUR/USD is approaching a key resistance level (orange line). This is a head and shoulders zone that could create a reversal (orange dotted arrows) if the bearish price action is strong. But if price action goes sideways, then it’s a bull flag pattern. This indicates a bullish breakout. The same is valid if price action breaks the resistance zone and then builds a flag. Both patterns confirm a wave 3-4-5 (purple) pattern.

The main target is aiming for the next zone at 1.1475-1.15, which is the confluence of both the 100% Fib and Wizz 9 target. If price action does build a deeper retracement, then the next 38.2% Fibonacci level is expected to be a support together with the 144 ema. Only a break below the 50% Fib invalidates (red x) the bullish outlook and wave 4.

EUR/USD 4 hour chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

 

 

EUR/NZD Bearish Breakout after ABC Pullback at 144 EMA

The EUR/NZD is in an established downtrend. Price has recently made an ABC pullback towards a heavy resistance zone (red box). What’s next?

4 hour chart

EUR/NZD 4 hour chart

The EUR/NZD needs to break below the 21 ema zone and the support trend line (blue) to confirm the downtrend continuation (green check). A breakout, flag, and continuation pattern would be the best pattern for any potential short setups. The main targets are the round level of 1.70 and 1.6925.

A break above the long-term moving averages would break indicate a break above resistance and invalidate (red x) the bearish outlook. The current pullback is probably an ABC (blue) wave in wave 4 (purple). The bearish breakout could complete a wave 3 (purple).

EUR/NZD chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

 

EUR/JPY Aims for 144 ema after Breaking Below 21 ema Zone

The EUR/JPY made a bearish bounce at the 21 ema zone after a bearish breakout below it (wave a). The bearish impulse will probably complete a counter trend move near or at the 144 ema close.

4 hour chart

EUR/JPY 4 hour chart

The EUR/JPY remains bearish as long as price action stays below the 21 ema zone. Price is aiming for the 38.2% or 50% Fibonacci retracement levels. This can be a bouncing spot for the end of the wave 4 (purple).

A re break above the 21 ema zone is needed to confirm the uptrend. The targets are up at 25-126.50 where the 161.8 and 176.4% Fibs are located around the Wizz 7 level. A break below the 50% Fib invalidates (red x) the bullish outlook and indicates a downtrend (dotted orange arrows).

EUR/JPY chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

XAU/USD Bull Flag Aims at $1800 after Breakout

Gold (XAU/USD) is building a bull flag chart pattern. Price has recently bounced at the support zone (green lines) and Wizz 6 level. Will price be able to make a bullish breakout?

Daily chart

Gold Daily Chart

The XAU/USD needs to break that resistance trend line (orange) before an uptrend confirmation is possible (green check). A breakout, pullback, and continuation pattern (green arrows) would help confirm the break. The target is aiming at the $1800-1820 zone. A failure to break could indicate a retest of the support zone first. A break below the support zone (orange dotted arrow) most likely invalidates (red x) the bullish outlook.

Gold Chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

 

EUR/AUD Testing 21 EMA Zone Within Massive Downtrend

The EUR/AUD resumed its downtrend after completing a wave C (purple) of wave 4 (green) at the 144 ema. However, price action was not able to break below the previous bottom. What should traders expect next?

1 hour chart

EUR/AUD 1 hour chart

The EUR/AUD is testing again the critical 21 ema zone. A downtrend resumed after price action bounced at the 144 ema and rebroke below the 21 emas. Now price will need to break again below support (blue) to confirm the downtrend continuation. A break and close above the 21 ema zone could indicate a deeper retracement towards the 38.2% Fib. This could expand the wave 4 to a new spot (green dotted arrow).

15 min chart

The EUR/AUD is testing the 144 ema on the 15 min chart. This is a key bounce or break spot. The critical aspect is to look for a breakout, pullback and continuation either up or down for a short-term price movement.

EUR/AUD Chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

EUR/USD Strong Uptrend but First Discount at Fibonacci

The EUR/USD bullish momentum is very strong. This impulse behaves as a typical wave 3 (purple). An uptrend continuation is likely BUT a retracement could take place first.

1 hour chart

EUR/USD 1 hour chart

The EUR/USD pullback could be an ABC (green) within wave 4 (purple). The retracement targets are the 23.6% and 38.2% Fibonacci levels at 1.1250 and 1.1150. The long-term moving averages could also provide extra support. A break below the 50% Fib invalidates (red x) the bullish outlook.

The EUR/USD break above the 1.1360-75 resistance zone could indicate an immediate uptrend (green dotted arrow). In that case, price might not make a pullback yet. The first target is the 261.8% Fib at 1.1425. The Wizz 9 target is at 1.15-1.1550.

EUR/USD

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

 

EUR/JPY Breaking Wizz 7 Zone and 120 Round Resistance

Dear traders, the EUR/JPY is building a triangle pattern in a large uptrend. Price was able to break above the Wizz 7 target. This indicates that an uptrend continuation is likely.

1 hour chart

EUR/JPY 1 hour chart

The EUR/JPY uptrend is clear when reviewing the moving averages (MAs): all of them are bullish aligned. Price has used the 21 ema zone (high & low) several times as a bouncing spot. The current triangle pattern could indicate another continuation. The wave count also suggests a potential wave 4 and wave 5 continuation (purple).

The main obstacle is the 120 round resistance level. Price will need to break that zone before a continuation towards Wizz 8 at 121 becomes feasible. The 176.4% Fib target at 120.25 could also cause a small pullback. A failure to break 120 could also indicate a larger pullback. But price remains in an uptrend as long as price stays above support (green box). A break below it invalidates the uptrend (red x).

EUR/JPY chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

 

EUR/USD Bullish Impulse Aiming at 1.1250 Fib Confluence

Dear traders, the EUR/USD is showing strong bullish momentum after breaking the resistance zone (dotte orange). A bullish ABC (purple) pattern is taking place. Price could aim for 1.11280.

Daily chart

EUR/USD Daily Chart

The EUR/USD has a confluence target zone at the 78.6% Fibonacci level, the -27.2% Fib target, and the Wizz 8 target.

1 hour chart

EUR/USD 1 hour chart

The EUR/USD seems to be in a wave 3 of wave 3 (purple). The current pullback is likely to be a wave 4 (purple). But price will need to stay above support (green box) otherwise the bullish outlook is invalidated (red x).

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

 

AUD/USD Prepares for Uptrend after Wave 4 Bull Flag

Dear traders, the AUD/USD is showing strong bullish momentum, which looks like a wave 3 (purple). The current pullback could be a wave 4 (purple). This means that the uptrend could soon continue.

1 hour chart

AUD/USD 1 hour chart

The AUD/USD is in an uptrend (blue box) when reviewing the alignment of all the Moving Averages. Price is now building a bull flag pattern as a pullback. The uptrend continuation could be part of the wave 5 of wave 5. The main target is at 0.6750.

The AUD/USD needs to break the resistance Fractal (orange line) for a bullish breakout with the trend. Another scenario is that price bounces at support (green box) for a deeper retracement. Both the break and bounce could confirm (green check) the uptrend continuation. A break below the wizz 5 makes this wave outlook less likely.

AUD/USD chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

 

GBP/JPY Head & Shoulders Pattern Aims at 134.50 Target

Dear traders, the GBP/JPY has bounced at the 61.8% Fib and 21 ema zone. This could indicate a bullish ABC (purple) pattern.

4 hour chart

GBP/JPY 4 hour chart

The GBP/JPY seems to have completed an inverted head and shoulders (purple boxes) reversal chart pattern. Price could aim for the Fibonacci confluence zones. One target zone is around 133.25 with a 61.8% Fib and -27.2% target. The second zone is at +/- 134.50 with 78.6% Fib and -61.8% Fib target.

Price will need to break above the resistance trend line and long-term moving averages first to confirm swing (green check). A re break below the 21 ema could indicate a deeper retracement within wave B. A break below the 100% Fib invalidates (red x) the ABC pattern.

1 hour chart

The GBP/JPY is showing strong bullish impulsiveness, which could kick off an immediate breakout. But chances of a small pullback and return into the support zone around 131.80 remain decent. Only a break below 131.25 should worry the bulls and could indicate a deeper retracement (orange arrow and red x).

GBP/JPY 1 hour chart

 

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

 

GBP/USD Aims at 1.20 Target After Breakout

Dear traders, the GBP/USD is in a clear downtrend. But price will first need to break the support zone (green line)… Otherwise there is a risk of a deeper pullback towards the 50% Fibonacci resistance. Let’s review.

1 hour chart

GBP/USD 1 hour chart

The GBP/USD bearish breakout would confirm (green check) the downtrend continuation. The bearish trend looks strong when considering the Moving Averages (MA). They are fully aligned to the downside. Plus price action made a bearish bounce at the 144-233 MA resistance zone. The target of the bearish break is aiming at the round 1.20 level. There is a confluence of Wizz 7 and 161.8% Fibonacci target (red circles).

If price action, however, breaks above the resistance line (orange), then a deeper retracement towards the 50% Fibonacci level is expected. The 50% Fib is expected to be a bouncing spot for more downside (orange arrow). A break above the 50% Fib makes the bearish outlook unlikely (red x).

GBP/USD chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up up to our newsletter

For a look at all of today’s economic events, check out our economic calendar.

 

GBP/USD Bearish Momentum in Wave 3 Aims at 1.20 Target

Dear traders, the GBP/USD is showing very strong bearish momentum. A bearish continuation is likely to aim for the 1.20 round level.

1 hour chart

GBP/USD 1 hour chart

The GBP/USD is pulling the 21 ema zone away from the 144 ema. Also, swat.MOMENTUM (pink/purple) have appeared and confirm the impulse. This is likely to create a bearish wave 3 (purple). The current pullback is therefore probably a wave 4 (purple). This remains valid as long as price stays below the 144 ema and Wizz 6 level. A break above it invalidates (red x) the bearish outlook.

A bearish pullback and breakout could confirm (green check) the continuation towards the Wizz 8 target and 1.20 round level. This support zone could in turn create a large bullish bounce (green arrow).

GBP/USD chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up up to our newsletter

 

Gold Expects Massive Bullish Breakout Above Triangle

Dear traders, Gold (XAU/USD) is moving sideways in a triangle chart pattern. This signals a continuation of the established uptrend.

4 hour chart

Gold 4 hour chart

The XAU/USD needs to break above the resistance trend line and Wizz 5 level. This would confirm (green check) an uptrend within the wave 5 (purple) pattern. The triangle is either fully or nearly completed. This means that price could be building a wave E (purple) of wave 4 now or soon.

An unexpected bearish breakout (orange arrows) could take place too. But price action remains in bullish territory despite the deeper retracement. A bounce at support is expected (green check). Only a breakout below the previous support zone would make a wave 4 less likely (red x).

Gold chart

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up up to our newsletter

 

GBP/JPY Pullback Reaches 144 ema and 50% Fibonacci Resistance

Dear traders, the GBP/JPY made a bullish pullback after a strong downtrend (red candles). The bears could soon regain control again and aim for the 130 target.

4 hour chart

GBP/JPY 4 hour chart

The GBP/JPY pullback reached the 50% Fibonacci and 144 ema resistance confluence, which could end the pullback. A breakout below the support trend lines (green) and the 21 ema zone would confirm the downtrend (orange arrows and green check)).

The first target is the Wizz 7 level at 130.80 but an extension towards the Wizz 8 target at 130 is likely too. Once price breaks below the 21 ema zone, price should stay under it. A re-break above the 21 ema zone and 144 ema could invalidate (red x) the bearish outlook.

Good trading,

Chris Svorcik

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up up to our newsletter

 

GBP/USD Bulls Regain Control in Large Range

Dear traders, the GBP/USD completed the bearish ABC (green) as expected in the previous wave analysis at the key support zone (green lines). How far can the bullish bounce go?

1 hour chart

GBP/USD 1 hour chart

The GBP/USD could retest the resistance zone (red lines) again. This could be part of a larger range. A bullish 5 wave pattern (blue) remains valid as long as the price stays above the 100% Fibonacci level of wave 2 vs 1.

A break below support invalidates (red x) the bullish outlook and indicates a downtrend. A bullish bounce and break could confirm (green check) the scenario. The main target is the previous top.

GBP/USD chart

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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Gold Builds ABCDE Triangle Pattern for Bullish Breakout

Dear traders, XAU/USD (Gold) is moving sideways in a triangle chart pattern. The ABCDE waves (blue) are expected to be completed soon.

4 hour chart

Gold 4 hour chart

The XAU/USD (blue) could be in the final wave E (blue). Although it’s possible the price will still extend the wave D (blue) at the resistance trend line (red) and the wave E at support. The ABCDE triangle is part of a wave 4 (purple) correction. This in turn is indicating an uptrend and a continuation of wave 5 (purple) within wave 3 (purple).

The bullish target is the 78.6% Fibonacci level of wave 5 vs 1+3. Price needs to break above the resistance trend lines (red) first before a new bullish swing could take place. A break below the 50% Fib invalidates the bullish outlook.

Gold chart

Good trading,

Chris Svorcik

The analysis has been done with the help of SWAT method (simple wave analysis and trading)

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