Hello Traders!
Here is my analysis:
GBP/USD WEEK
There are no changes over last week. We see an uptrend. The first target along the trend almost coincides with the strong reversal level 8/8. The price is in the upper trading range. After hitting level 7/8 there is a good chance of reaching T1. A reversal from level 8/8 is also possible.
GBP/USD DAY
This is a downtrend. There are no targets along the trend. The price has reached a strong reversal level 0/8 which is significant on weekly charts. There is a high possibility of the trendâs reversal from the oversold area.
GBP/USD 240
We can see a downtrend. On the way to the target there is a strong reversal level 2/8 which is significant on a senior time frame. The price is in the upper trading range. After hitting level 2/8 the price may reach target T1.
USD/CAD WEEK
Since last week the situation has not changed. It is a downtrend, the price is getting ready to attack a weak reversal level 1/8 once again. On the way to the target there is a strong reversal level 0/8. There is a high probability of a reversal or a strong retracement of the trend from level 0/8.
USD/CAD DAY
Since last week the situation has not changed. A downtrend. The price moves in the trading range and therefore may linger there (a flat has started). On the way to the target there is strong level 0/8 which is significant on weekly template. The price has almost exceeded the time frames, and for the further analysis we need to reconstruct the template using new extremes.
USD/CAD 240
We see a downtrend. The price is in the trading range, a flat is possible. On the way to the target T1 there are no strong levels from senior time frames. The price may easily reach target T1 after hitting p.4 down and reaching the lower trading range.
AUD/USD WEEK
Not much has changed since last week despite a new extreme. It is an uptrend. The price has hit quick reversal level 7/8 on the move and went down. Since the price went through 3 MM-levels without strong retracement, a trend reversal from this level is likely.
AUD/USD DAY
Not much has changed since last week. An uptrend. All targets along the trend are quite close to each other. We can see a retracement from strong level 6/8 which is significant on weekly charts. Perhaps, this is a start of a downtrend. However if the uptrend continues, the price is very likely to reach level 8/8 that is below target T1, because on the way to this level the price has only a weak local reversal level 7/8.
AUD/USD 240
This is a downtrend, the price is in the trading range and may linger there for a while. On the way to target T1 there are no strong levels from senior time frames, so the price may easily reach this target after hitting p.4 down.
AUD/USD 60
An uptrend. The price is in the upper trading range after hitting p.4 upward, till level 8/8 there are no more strong resistance levels from senior frames. The price may reach target T2 or even target M (unless the price is stuck at quick reversal level 7/8).
Here is my analysis:
GBP/USD WEEK
There are no changes over last week. We see an uptrend. The first target along the trend almost coincides with the strong reversal level 8/8. The price is in the upper trading range. After hitting level 7/8 there is a good chance of reaching T1. A reversal from level 8/8 is also possible.
GBP/USD DAY
This is a downtrend. There are no targets along the trend. The price has reached a strong reversal level 0/8 which is significant on weekly charts. There is a high possibility of the trendâs reversal from the oversold area.
GBP/USD 240
We can see a downtrend. On the way to the target there is a strong reversal level 2/8 which is significant on a senior time frame. The price is in the upper trading range. After hitting level 2/8 the price may reach target T1.
USD/CAD WEEK
Since last week the situation has not changed. It is a downtrend, the price is getting ready to attack a weak reversal level 1/8 once again. On the way to the target there is a strong reversal level 0/8. There is a high probability of a reversal or a strong retracement of the trend from level 0/8.
USD/CAD DAY
Since last week the situation has not changed. A downtrend. The price moves in the trading range and therefore may linger there (a flat has started). On the way to the target there is strong level 0/8 which is significant on weekly template. The price has almost exceeded the time frames, and for the further analysis we need to reconstruct the template using new extremes.
USD/CAD 240
We see a downtrend. The price is in the trading range, a flat is possible. On the way to the target T1 there are no strong levels from senior time frames. The price may easily reach target T1 after hitting p.4 down and reaching the lower trading range.
AUD/USD WEEK
Not much has changed since last week despite a new extreme. It is an uptrend. The price has hit quick reversal level 7/8 on the move and went down. Since the price went through 3 MM-levels without strong retracement, a trend reversal from this level is likely.
AUD/USD DAY
Not much has changed since last week. An uptrend. All targets along the trend are quite close to each other. We can see a retracement from strong level 6/8 which is significant on weekly charts. Perhaps, this is a start of a downtrend. However if the uptrend continues, the price is very likely to reach level 8/8 that is below target T1, because on the way to this level the price has only a weak local reversal level 7/8.
AUD/USD 240
This is a downtrend, the price is in the trading range and may linger there for a while. On the way to target T1 there are no strong levels from senior time frames, so the price may easily reach this target after hitting p.4 down.
AUD/USD 60
An uptrend. The price is in the upper trading range after hitting p.4 upward, till level 8/8 there are no more strong resistance levels from senior frames. The price may reach target T2 or even target M (unless the price is stuck at quick reversal level 7/8).