Hi everybody!

We started the London session today with a look at the AUDUSD, which at the time was in a minor bearish correction but still strongly supported for upmoves, targets @0.9270, 0.9334. At the time of this writing the first target was reached, waiting to see the reaction to the 2nd target.

EURUSD and GBPUSD looked overbought, possibility of consolidation down however the bears have not yet stepped in with serious momentum. Charts look like forming a narrowing range which at the moment points down, with a more bullish bias for GBPUSD (it seems to have started rallies across the board).

USDJPY and GBPJPY both looked bullish, with USDJPY confirming earlier and giving a stable rally on overall yen weakness, which we expect to continue.

However, the big winner of the day remains the CAD, which managed to rally against all the majors, especially agains the JPY and EUR. USDCAD looks like in the first stage of a much larger leg down, a move that we are currently focusing on.

Happy trading!

Greetings everybody! A lot of interaction and good setups in the LTR today, overall many opportunities to look at.

We started with a look at the USDCAD, where since yesterday we’ve been waiting for a bearish signal (a TD break on 4h charts) - finally the TD resisted and we are still in consolidation at the time of this writing.

The AUDUSD presented a possible aggressive opportunity to buy for some large targets, but we decided to wait for the conservative entry (proved to be a good decision later, when Aussie dipped towards our projected stops) .

Today we focused our attention on the JPY pairs and started the day with a bullish perspective on all three majors - USDJPY, EURJPY, GBBJPY, an outlook that was later confirmed through different technical setups: Elliott Wave formations on several levels, divergence, trendlines, and finally a nice triangle on USDJPY that was broken while we were observing the pair.

We managed to jump right in on a USDJPY long @107.54, with a mid-term target of 109.18 and with a protective stop @106.95. The stop was later raised to breakeven during the NY session, therefore we are now enjoying a risk-free ride (at the time of this writing our trade has reached +70 pips, and counting) .
Will stay in the trade and possibly add to the position at a pullback towards 107.95.

Happy trading and see you tomorrow morning!