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$AUDUSD keeping its head up

Cross is heading for a double top at 1.0030 with a further target at the R6 @ 1.0149. Currently looks very much like a head and shoulders so the bearish outlook continues to build.  We are looking for a move to the 0.9772  area (support) in the next few days.  However, currently a strong possibility is that it will stall  & continue to move northward.  A break of the 1.0030 negates the bearish outlook.

 

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$EURUSD

Cross is sliding along in consolidation/accumulation just above the R5 (5th resistance) so the bearish outlook continues to build.  We are looking for a move to the 1.2965  area (support) in the next few days.  However, a strong possibility is that it will stall or bounce at 1.3066 area in the NY session (.786 fib). 

 

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XAG Silver

I am up about 40 pips on the XAG but since this could be a bear flag and not just a break of the wedge down will exit and look to reposition on Monday.  Please note the lower points that we can expect bounces since those will prove to be exciting moves if we get them.  Initial target to the upside is still 30.11.

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$AUDUSD Channel Break?

$AUDUSD  built a channel during the Asian and London and looking for a move to the .9810 area (.270 fib extension, support and the former R1 resistance now support).  However we have not broken out of the channel so a strong possibility is that it will bounce north in the channel and the will look to short again at the 0.9930 – 0.9960 area.  Squaring up day so be careful.

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XAG Silver - getting in position

Watching for the Break of the trendline to the upside Target is 31.11 initially.  If it respects the line look for another pullback to the 28.43 and then the bounce.

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$AUDUSD looking good for.9810

 

NY session Room is temporarily down

$AUDUSD  just finished the bear flag at .9900 and looking for a move to the .9810 area ( .270 fib extension, support and the former R1 resistance now support).  Will have stalling at the former bottom at .9843 but should not deter it long.

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NY Session Room

Currently the Room is down due to our provider's server is down - will get it up asap

 

Watch Aussie sell to .9810

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$USDJPY looking at a triple top

UJ is approaching the .786 retracement on its way to the triple top at 84.50.  The R3 is at 84.28 which could stall it.  The 84.42 is a critical area since it has not been broken the last 5 times! A bounce here targets a move back to the R1 @ 83.42.  A break here targets the R4 and the support @ 85.17.

 

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USDJPY looks good to the R3 target 84.26

Looking for a sideways move ( consolidation) and a break to the upside.  Don't rulle out a retracement first.

 

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