My view is we are on our way back to the top of the wedge and we have
hit mid pattern congestion or are we headed back to the 76.40-77.20 zone
Daily chart shows harmonic pattern setting up if we break this wedge to the downside with a measured move and fib target zone 76.20-40 where I would be a buyer
This tightening up in the dollar index is pretty clear in the major pairs with GBP the strongest vs the dollar with a break to the upside and NZD & just behind AUD as the weakest. EUR & CHF are in tight wedges setting up breakout trades
I like EURUSD long on dips to 1.3837 where I am a seller again
After double bottom at the 50fib Aussie has held in the channel and rolled over. My downside targets for this bearish pattern are below parity at 98 if the 1.0250 level does not hold this time
(also bearish harmonic pattern) After weeks chopping around above 2008 highs back to 0.7978 support next looks most likely
My worst performing market, need to remove my own limits, it's been a long time since this market was trending, rangebound since the start of the year, buy the bottom & sell the top til it breaks.
Another wedge, there is a pattern here ... ;)
JPY has outperformed the dollar this week & month so far. April is seasonally end of year yen repatriation month. Starting to get that bull flag look which sets up a nice trade for down the road ...80.00 looks like such an easy buy level it got frontrun last time we got close, but my money says 79.50 & 78.30 are better levels.