Long-term and Short-term Setups

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TriciaWilson

Hello Traders,
I’m 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.

EUR/CAD Technical Analysis

~~ The counter has been formed a long base formation.
~~ Further, it could be interpreted as a correction after a strong impulse move.
~~ It has crossed the critical resistance level of 1.55279 and is consolidating above it.
~~ And the MACD indicator has turned bullish and is having good momentum.
 

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USD/JPY Technical Analysis

~~ The counter is currently at the strong support of a trendline, which could be contemplated as triangle pattern.
~~ According to the short-term waves, the counter has completed wave B of a bear cycle and is due for a wave C.
~~ Hence, we expect the pair to be bullish and head to higher to levels.

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AUD/NZD Wave Analysis

  • The counter is currently in a long-term bear cycle.
  • It is currently in its second leg of wave B.
  • Further, it resembles a flag formation and is coming down after hitting the upper parallel.
  • Hence, we expect the pair to be bearish and move to the lower parallel from here.
AUDNZD Analysis.png
 
EUR/USD Technical Analysis

~~ The counter is currently in a strong bull run.
~~ It is forming a parabolic pattern, which suggests further strong upmove is on the cards.
~~ Also, the pair is forming a bullish pennant pattern in the short-term charts.
~~ We expect it to surge sharply higher for the day.

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EUR/AUD Technical Analysis
~~ The counter has broken two strong resistances back to back.
~~ One- bearish trendline.
~~ Two- Price resistance at 1.64427.
~~ It is having strong momentum and hence we expect it to reach higher levels sooner.

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GBP/USD Wave Analysis

~~ The counter is currently in a short-term bull run.
~~ It is now consolidating within ranges to form wave 4.
~~ We expect the pair to move to the support zone (marked in the chart) and then head higher.

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EUR/USD Technical Analysis

~~ The counter is in a strong bull trend.
~~ It consolidated for a brief period within a bullish flag and now has broken out.
~~ Further, it has formed an inverted head and shoulder pattern within the flag which indicates the absorption of selling pressure.
~~ Hence, we expect the counter to remain bullish in the short and near-term.

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EUR/CHF Wave Analysis
~~ The counter has completed a bear cycle and is due for a correction.
~~ It formed an inverted head and shoulder pattern in the lower timeframes and has broken out.
~~ Hence, we expect the counter to be bullish in the near-term.

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CAD/JPY Wave Analysis
~~ It has recovered from the low with a strong V-shaped rally, which is a sign of reversal.
~~ Further, the could interpret it as an ABC correction.
~~ Hence, we expect the pair to trade with bullish bias from here.

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NZD/USD Technical Analysis
~~ The counter has broken down two critical supports.
~~ One- price action support level of 0.66128.
~~ Two- Bullish Trendline.
~~ It indicates the counter has changed its short-term to bearish and we advise traders to go short.


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