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Long-term and Short-term Setups

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.



CAD/JPY Technical Analysis
~~ The counter has recovered from the lows with a strong V-shaped rally.
~~ It has now crossed a critical resistance level of 80.162.
~~ The structure resembles a bearish shark pattern and we expect the pair to rally to the completion zone for now.
 

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Jhon Dumani

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EUR/USD Technical Analysis

~~ The counter has been rising sharply from the low.
~~ The entire structure looks like a bearish cypher pattern.
~~ We expect the pair to face resistance at the reversal zone marked in the chart and move back to support level.


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GBP/USD Technical Analysis

~~ The counter is forming a descending triangle at the high.

~~ It made a fake-out at the resistive trendline and then sold off only to form a bearish flag pattern in the near-term.

~~ We expect the bearish flag to break down and the price to move to the short-term support zone.

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AUD/USD Technical Analysis

~~ As we mentioned earlier, AUD/USD has formed a gramophone pattern.
~~It has now formed an inverted head and shoulder pattern the supportive trendline and has broken out.
~~ And the RSI indicator has also replicated the same pattern, which validates the strength in the counter.
~~ Further, the prices are now trading above a strong support level of 0.71727.
~~ Hence, we expect the pair to be bullish from here on.

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USD/CAD Technical Analysis

~~ The counter has been trading with a bearish bias for long.
~~ The down move can be plotted with a pitchfork and the pair is making its last leg of the move down.
~~ Hence, we advise traders to go long at the lower parallel.
~~ And the upswing has a great chance to break the upper end of the range.


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EUR/USD Technical Analysis

~~ The counter has made a bullish breakout from the consolidation.
~~ It is now taking support and broken resistance, which is a powerful sign.
~~ Further, the consolidation can be interpreted as wave 4 and it is gonna make a move to wave 5.
~~ Hence, we expect the pair to be bullish in the near-term

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GBP/NZD Technical Analysis

~~ The counter has formed a topping out formation in the near-term.
~~ It made a double top and has broken a key support level of 1.99508.
~~ Further, the round number of 2.00 can act as psychological barrier in the near-term.
~~ Though a pullback to the top cannot be ruled out, we still expect the pair to be bearish in the near-term.

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NZD/JPY Wave Analysis

~~ The counter is currently formed a flat ABC corrective wave.
~~ It broke out from a bear flag pattern, tested the broken support, and is now coming down with strong momentum.
~~ Hence, we expect the pair to be bearish in the near-term.

freeanalysis.png
 
EUR/JPY Technical Analysis

~~ The counter had multiple supports- trendline, bullish flag support and price action support.
~~ But it has broken all the levels and bulls are trapped big time.
~~ Hence, we expect some long unwinding move in the counter.

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NZD/USD Technical Analysis

~~ The counter is currently is descending channel pattern.
~~ It hit the lower parallel and bounced off with a ascending channel pattern.
~~ Hence, we expect the pair to trade with positive bias in the short-term.

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USD/CHF Technical Analysis

~~ The counter is currently in sideways consolidation.
~~ It made a false breakout at the lower end of the range and has crept in and now forming a symmetrical triangle pattern.
~~ We expect the triangle to render a bullish breakout and push the price to upper end of the range for now.

ANALYSIS.png
 
EUR/GBP Technical Analysis

~~ The counter is currently consolidating in a wedge pattern.
~~ It hit the lower end of the range, formed an exhaustion candle and rose up sharply.
~~ Now, it is sliding to a demand zone where we expect buying activity to resume in the counter.

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EUR/CAD Technical Analysis

  • The counter is currently sliding down in a descending channel.
  • It hit the upper parallel and is coming down strongly.
  • Further, the RSI indicator has formed a head and shoulder pattern.
  • Hence, we expect the pair to be bearish in the near-term.
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NZD/USD Technical Analysis

~~ As suggested earlier, the counter found support at the supportive trendline and bounced off.
~~ Now, it has broken the resistive trendline as well and consolidating just above it.
~~ We expect the pair resume to bull trend and head to the immediate resistance marked in the chart.
~~ The support zone marked in the chart can cap the declines.


NZDUSD.png
 
EUR/CHF Technical Analysis

~~ The strength of Swiss Franc bewilders us as it was able to contain the hottest currency like Euro.
~~ Despite EUR/USD & EUR/JPY moving to great heights, it is still in bearish territory and the counter has absorbed intense buying pressure.
~~ Technically, the formation resembles a round top and so a sell-off is on the cards when the Euro corrects against erstwhile currencies.

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GBP/CHF Technical Analysis
The counter is currently in a 3-wave bear cycle.
Further, it is currently forming wave B in the form of a bearish flag pattern and is close to the resistance zone.
Hence, we expect the pair to find resistance around this area and commence its wave C.

Aug 28_GBPCHF.png
 
EUR/GBP Technical Analysis

~~ The counter is now on the verge of completing a 3-wave bear cycle.
~~ It is now approaching a strong demand zone which also coincides with the 61.8% retracement of the entire rally.
~~ We expect the pair to kickstart a fresh bull cycle from here.

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