EURJPY COMPLETES A SECOND BULLISH TRIANGULAR CYCLE WITHIN CONSOLIDATION

EURJPY has completed its second bullish triangular cycle, completing the formation of the second cycle with a significant BEARISH rejection, off the 50ema. Price is now expected to resume long and could get as far as 144 area.


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AUDUSD: COMPLETED TRIANGULAR CYCLE, HIDDEN DIVERGENCE REGULAR DIVERGENCE SHOULD INTEREST BUYERS

AUDUSD looks set to continue its bullish push as price gave off a Pin Bar after facing rejection from the 50EMA dynamic resistance. This situation was preceded by the hidden divergence, a completed triangular cycle and a regular divergence. All these point to more bullish movement. If price sustains the break of the descending trend-line, price would aim to reach the 0.9400 area.


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NZDUSD SHOOTS HIGHER AFTER A COMBINATION OF A HIDDEN AND REGULAR DIVERGENCES

The bullish explosion seen with the NZDUSD last week was triggered after price dipped further at the completion of a triangular cycle. This doesn't come as a surprise since price was yet to hit the 50ema in the last rally and also didn't break out of the descending trend-line at the completion of its triangular cycle. A clear rejection off the new Support zone at the close of trading on Friday signals for more bullishness to follow in the new week. 0.8790 looks a possible target.



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EURCHF: BEARISH TRIANGULAR CYCLE COMPLETED.

EURCHF (check previous analysis) closed the week with a Pin bar off the 50ema dynamic resistance after price completed a triangular cycle at the spotting of a hidden divergence on the daily time frame of the pair. The hidden divergence signifies trend continuation and since the major trend is bearish, it combines with all the other factors mentioned, to indicate further bearishness in the coming week. Price is expected to fall into 1.2120 area.


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Bullish and Bearish Triangular cycles completed for the EURUSD and USDCHF respectively.

 The EURUSD chart above shows the complete formation of a triangular cycle. (The triangular cycle is a new concept I had been working on) We can see that there had been a previous setup of it between Feb 12 and March 5th 2014 which delivered a measure of pips. We are also expecting that this setup would deliver pips. Price should aim to make a new high in the coming week and our last target is at about 1.4020.

USDCHF has also signaled to go short after it also completed a triangular cycle. The triangular cycle is usually kick started when market gives of a hidden divergence (A hidden divergence is a trend continuation setup). We are expecting lower prices in the new week.



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Bearish alert: USDCAD fires a Pinbar at dynamic resistance

USDCAD fired off a Pin bar as price laboured in vain to pull higher from its recent rally which now looks likely to continue and maybe develop into a trend but in the mean time, we have a Pin bar at the dynamic resistance as price continued to face rejection from the upside. Pprice is now expected to fall into the horizontal support at about 1.0867.

The four hour chart below shows how we intend to trade this setup.

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GBPUSD staying with the bullish trend

These days I comment less on my posts becos you could use a picture to depict a scenario completely as the GBPUSD chart above does.


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