Long-term and Short-term Setups


#1

Hello Traders, Im a pro with 7+ years of experience in the market. I want to help out retail traders. So, here I post some of my long-term and short-term setups and crisp points of the reasoning and my conclusion. Hope it benefits you.

USD/CAD Wave Analysis

~~ The counter has been consolidating in a sideways correction for the last few days.
~~ It could be interpreted as an ABC correction and the recent down move as wave B
~~ We expect the pair to find support in this zone head higher.


#2

USD/CHF Wave Analysis

~~ The counter has been in a downtrend since the start of this year.
~~ The price was consolidating in a narrow for the last few months which could be interpreted as wave 4 of Elliott wave.
~~ Now it is on the brink of rendering a bearish breakout.
~~ We expect it to breakdown and complete wave 5.


#3

Crude Oil Wave Analysis

~~ The strong upmove from below zero levels in the crude oil was consolidating for the last few months.
~~ It could be interpreted as wave 4 of Elliot wave which also resembles a bullish flag pattern.
~~ We expect the pair to be strongly bullish after it crosses the resistance at 41.90.


#4

CAD/CHF Technical Analysis

~~ The counter has consolidated and formed a base at the lower.
~~ It could be interpreted as multiple inverted and shoulder patterns.
~~ Now, the pattern has broken out and hence we expect the pair to be bullish in the short-term.


#5

GBP/JPY Technical Analysis

~~ The counter has been consolidating within a bearish flag pattern after the deep slide.
~~ It hit the upper parallel of the pattern and then made a strong sell-off.
~~ We expect the pair to move lower and break down in the short-term.


#6

EUR/AUD Wave Analysis

~~ The counter is correcting in an ABCDE formation.
~~ It has completed wave D and is taking support at the trendline.
~~ We expect the pair to move higher to complete wave E.


#7

NZD/USD Wave Analysis

~~ The counter has completed a 5-wave bull cycle.

~~ It is now poised to make an ABC correction and break below the support 0.68655 validates it.

~~ Hence, we advise traders to go short after the support breaks.


#8

USD/JPY Technical Analysis

~~ USD/JPY made a strong impulse move two weeks before.

~~ But the rally fizzled out at the high and since then the pair is retracing its move.

~~ Now, it has found support around the 103.7 mark.

~~ A move beyond the resistance 104.2 can invite bulls once again in this counter and hence we advise traders to go long as soon as the pair breaks above it.


#9

USD/CHF Technical Analysis

~~ The counter has been coiling within a 300 pip range.

~~ Now, it is at the lower end of the range and taking support.

~~ We expect the pair to head higher to the upper end of the range.


#10

AUD/CHF Wave Analysis

~~ The counter has been in a 5-wave bull cycle.

~~ Now, it is in the wave 4 phase which results in a bearish correction.

~~ Hence, we expect the pair to be bearish in the near-term.


#11

EUR/GBP Technical Analysis

~~ The counter has been in a steady decline for the last 3 months.
~~ Now, it has hit a strong support level which could trigger some profit booking.
~~ Further, the stochastic indicator has given a buy signal by crossing over from the oversold zone.
~~ Hence, we expect the pair to be bullish in the short-term.


#12

USD/CAD Technical Analysis

~~ The counter is currently hovering around long-term support of 1.3000.
~~ Though the price action has been able to marginally breakdown, it is not able to follow through.
~~ Further, the stochastic indicator has made a bullish crossover from the oversold zone in the 8-h chart.
~~ Hence, we expect the bulls to push the pair to higher levels from here.


#13

NZD/USD Technical Analysis
~~ The counter has been in a strong uptrend in the long-term charts.
~~ In the short-term charts, it is moving up in an ascending channel.
~~ Further, it is currently at the lower parallel and hence it’s a good time to go long.


#14

EUR/AUD Technical Analysis
~~ The counter is currently in a bearish flag formation.
~~ It has formed a good base at the lower parallel and is ripe for a rally.
~~ Hence, we expect the pair to be bullish and move to the upper parallel from here.


#15

GBP/JPY Technical Analysis
~~ The counter has been in an ascending triangle formation.
~~ Now, the range is narrowing and the pair is in a make or break situation.
~~ We expect the pair to render a bullish breakout, however, we advise traders to go long only above 140.341.


#16

GBP/CAD Technical Analysis

~~ As we suggested earlier in our premium analysis, the counter has formed a bearish flag formation.
~~ It has now broken down with a strong volume candle.
~~ Hence, we expect the pair to move down to lower support levels.


#17

EUR/JPY Wave Analysis

~~ The counter is currently in a short-term bull cycle.
~~ It is now in a consolidation phase which could be termed as wave 4.
~~ We expect the pair to surge to the high to complete wave 5.


#18

EUR/USD Technical Analysis

~~ The counter is currently forming a bullish flag pattern.
~~ It is now sliding down to the support zone placed around 1.2000.
~~ The support zone presents a good buying opportunity, however, if you are a risk-averse trader, we advise you to go long after it crosses the resistance at 1.21322.


#19

GBP/NZD Technical Analysis

~~ The counter has broken down a head and shoulder pattern.
~~ The pattern is right inclined which portrays extreme negativity in the counter.
~~ Hence, we expect the pair to be bearish in the short-term.


#20

See similar for EURJPY but i believe in a retraction to 125 (ws) level before going up to 127.

I’m short @ 126.500 with TP @125.00